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Show Orem-Geneva Times Page 2 Wednesday, September 19, 1990 Coping financially after a spouse's death When Sheila Olsen's husband Dennis collapsed while shoveling snow from the roof of their home, the news was not good. Within ten minutes he was dead, his life taken by arteriosclerosis. Sheila was left the single parent of ten children, six of them still living at home. And she already al-ready faced other challenges. She was confined to a wheelchair, a victim of multiple sclerosis for 23 years. But despite tremendous difficulties, dif-ficulties, she felt an overwhelming gratitude for her blessings, she said in an article in the February 1990 Ensign magazine. She had had a good relationship with her husband, based on mutual respect. She felt the strength that came from her religious beliefs. And she was financially prepared for the tragedy. "I was able to keep the temporal tem-poral aspect of our family life running run-ning smoothly because Dennis and I practiced six areas of financial finan-cial preparation counseled by our church leaders," she says. The principles are a great help in meeting financial challenges, she adds. 1. Stay out of debt. In this world of easy credit, it's easy to live beyond one's means. Yesterday's luxuries seem to have become today's necessities. People tend to spend whatever is in their checking account, not anticipating an-ticipating possible vital expenditures expendi-tures to come. Olsen suggests asking oneself if an item to be purchased is something some-thing which must be bought immediately, im-mediately, or is it a future expense? ex-pense? 2. Have adequate insurance in-surance protection. In our high-tech world, hospital bills can skyrocket when medical care is needed. Lawsuits can also devastate devas-tate a family without insurance. An insurance program should include in-clude adequate health, life, fire, car and disability insurance. 3. Save money. Consider long-term savings plans, including includ-ing yearly individual retirement accounts, as a part of your budget. Live below your income level, so saving becomes an option. 4. Keep accurate financial records. One thing Sheila Olsen noticed most after her husband's death was the increase in paperwork paper-work she had to handle. Paying property tax, income tax payments, pay-ments, car and medical insurance premiums became a part of her routine. She devised a recordkeeping record-keeping system based on one her husband had used at work, including in-cluding categories for: -Bills, pending-keep in a specific place. -Bank statements-separate folders for each bank and account within the bank. At the end of the year, remove to storage. -Insurance-separate folders for each policy. Investments separate folders for each investment. -Receipts. ' -Taxes-separate folders for income tax returns, receipts to verify income tax deductions, state tax returns, etc. -Warranty information. Optional files included: -Car-gasoline and car repair receipts and records. -House and yard-receipts and other information relating to the maintenance of the house. -Money matters general financial management information. informa-tion. -Miscellaneous receipts. When several folders fall into one category, she groups them together in a larger, expandable folder. Originals of important documents are kept in a safety deposit box, and a photocopy of documents is kept at home. 5. Maintain personal resources. These include aptitudes ap-titudes and talents, education and training and resourcefulness. Good homemaking skills can help stretch the budget and help make ends meet. She adds that it's never too late to seek additional addition-al education, training or skills. 6. Know the entire financial finan-cial situation. Dennis Olsen included in-cluded Sheila as a full partner in all financial decisions, so she was well aware of his transactions and business dealings. She also managed the household budget. Careful notes of assets and liabilities were made before her husband's death, so putting affairs af-fairs in order was simplified. She suggests documenting the following follow-ing information: -Your full name(s) and social security numberCs), and those of your children. -The name of your bank(s) and each account number. -The names of each of your insurance policies. Identify what kind of insurance-life, health, car, etc.-and give the name, address, ad-dress, and telephone number of the agent. -The name of every investment-stocks, real estate, certificates certifi-cates of deposit, retirement funds, etc.-and the location of the original documents. -Names, addresses and telephone number of people who owe you money. -Names and addresses, and telephone numbers of people and institutions to whom you owe: money. List credit card names i and numbers here. 1 Names, addresses, and telephone number of the mortgage holder of your home. Include the mortgage number and the amount due. -Names, addresses, and telephone numbers of specialists, such as an attorney, accountant, financial adviser, and car mechanic. Another principle of sound financial management is prompt payment of bills, she adds. "I require and receive strong support form the business community com-munity as I function as a single Imrent who has the added chal-enge chal-enge of an inability to walk," says Sheila Olsen. "At the same time, I recognize that businessmen and women have needs and obligations obliga-tions of their own, and I make every effort to pay my bills in a fair and timely manner. Even more important to us than money in the bank is the legacy of honesty hones-ty and integrity that Dennis left." Family History Library open Sunday, Sept. 23 iD n 1 J j I t I WJL" "Well, if someone should turn in a large wicker basket with an 18-foot cobra in it, let me know IMMEDIATELY!" The Utah Valley Regional Family History Center will offer free classes in family history research re-search Sept. 23. Located on the fourth floor of the Lee Library on the Brigham Young University campus, the center is open from 9 a.m. to 6:30 p.m. Computer courses offered Sunday will include the PAF (Personal Ancestry File) workshop for the Macintosh, 11 a.m.; beginning Macintosh PAF, 2 p.m.; beginning IBM computer and PAF software, 9:30 a.m. and 3:30 p.m.; PAF using genealogy exchange on IBMt 11 a.m.; and PAF enhanced features for IBM, -5 p.m. ' Regular courses available include in-clude beginning research phase I, 10 a.m.; beginning research phase II, 5 p.m.; ward consultant training, 5 p.m.; and using the BYU library with tour and film every half hour. In addition, Jay and Marilyn Grant will present two special classes, "Understanding the FHLC (Family History Library Catalog) on Computer" at 2 p.m., and "Using the IGI (International Genealogical Index) on Computer" Com-puter" at 3:30 p.m. Other special workshops include "Genealogy for Spanish Speaking People" by Gonzalo J. Kodas, 12 noon; "Danish Research," by Linda Lar-sen, Lar-sen, 1 p.m.; and 'Civil War Records' by Dini Hansma, 4 p.m. Pre-registration is required for computer classes. Information about the library and pre-registration pre-registration for classes are available avail-able at 378-6200. Lois Johnson in vocal recital at Y Sept. 25 Lois Johnson, a member of the vocal faculty at BYU, will perform i a recital Sept. 25 in the Madsen Recital Hall, Harris Fine Arts Center, at 7:30 p.m. Admission is free and ppen to, , the public. The program will include the Cantata "Speranze mie" by Ales-. sandro Scarlatti; "The Poet's Echo," a song cycle by Benjamin Britten; and the aria, 'To this We've Come" from the opera "The Consul" by Gian Carlo Menotti. Pianist Elizabeth Elliott will accompany her. She has presented many recitals reci-tals in the Western United States. Johnson is a member of the Mormon Tabernacle Choir -and conducts the Utah Valley Choral Society. 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