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Who pays the bills in your household? Is it a shared experience or have you delegated that burden to one unlucky person? In my family it’s me. I’m not complaining too loudly because there are worse things to do around the house each month that I don’t have to do, like wash the dishes and clothes and give the kids spending money. Yuck! How many months would it take for the person who doesn’t pay the bills each month to figure out what bill is due when? Would there be a few late fees that would have to be paid? Are there bills that are on bank draft that both spouse aren’t familiar with? Would there be a chance of insufficient funds charges?

All this leads up to an important step in the planning process that is sadly often overlooked. Map out a plan or keep a journal for three months showing when the bill arrives in the mail, when it is due, and where it is mailed so that if the family member who will have to pick up where the other left off due to a serious injury, illness or death can’t pay the monthly bills anymore. This isn’t insurance, it’s just good planning.