2020 may be behind us, but unfortunately, the U.S. COVID-19 outbreak continues to set records with devastating results. While those with milder cases may recover at home within a few days, experts say those who must be hospitalized experience an average stay of about two weeks, with some needing extra recovery time in a long-term care facility. The virus is also now the leading cause of death in the U.S. And the loss can leave family members scrambling to understand their loved ones' last wishes, locate important documents, and settle their affairs.

Whether it's COVID-19 or a car accident, we all run the risk of having to rely on someone else to manage our households or access our important estate documents. This year, resolve to be prepared ­­— by creating a financial "scrapbook" for your loved ones.

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Read by Marie T. Russell, InnerSelf.com

Music By Caffeine Creek Band, Pixabay

About the Author

Wayne B. Titus III, CPA/PFS, AIFA founded AMDG Financial and AMDG Business Advisory Services in 2002 based on his 15 years' experience at two large accounting firms working with Fortune 50 clients. He dove into entrepreneurship to make a bigger impact on people's lives. As a fee-only fiduciary adviser, his loyalty is to his clients: he places their interests ahead of his own or his firm's. With assets of more than $200 million, AMDG Financial integrates tax, financial and investment strategies to help clients make financial and life transitions successful on purpose. The company's credo is, "From financial wisdom, better stewardship." His latest book is The Entrepreneur's Guide to Financial Well-Being (Lioncrest Publishing, March 2019). To learn more, visit amdgservices.com