Do you are your spouse manage all of your financial matters? If so what happens to your personal finances if the other is hospitalized or unexpectedly passes away? Would the non-CFO of the house know what to do to manage the family finances? In my post Financially Prepare your Spouse in order to Simplify I explain what the non-spouse needs to know in order to manage the family finances. Now its time to take it a step further. In order to make it even easier for the non-CFO spouse, you must create a file to explain what needs to be done to manage the family finances. I would label this file Emergency Financial File. This file should be filed with all of your other financial documents or in a location your spouse has access to and can quickly put their hands on it when needed. I would even purchase a red folder so it stands out from all of your other files.
