States are emptying their unemployment funds, and even the federal fund designed as a backstop is likely to run out of money

States are emptying their unemployment funds, and even the federal fund designed as a backstop is likely to run out of money

The current real unemployment rate is 20.8%, the highest since the Great Depression.

Many states’ unemployment funds aren’t robust enough to meet growing demand.

Typically states can apply for help from the Federal Unemployment Account, but even that could run out, experts warn.

“No system is designed for [this] level of unemployment,” former North Carolina budget director Lee Roberts told Business Insider.
Roberts said it was “highly likely” states would begin limiting the duration and dollar amount of payouts to prevent the coffers from running dry.

Over the last five weeks, more than 26 million Americans have filed for unemployment. That’s in addition to the 7.1 million already out of work, according to the Bureau of Labor Statistics.

The result is a real unemployment rate of 20.6%, the highest since the Great Depression.See the rest of the story at Business Insider

 

Original Source: States are emptying their unemployment funds, and even the federal fund designed as a backstop is likely to run out of money

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Now is the time to write your will, and there are a few ways to do it while you’re stuck at home in quarantine In 2020
Now is the time to write your will, and there are a few ways to do it while you're stuck at home in quarantine In 2020

Now is the time to write your will, and there are a few ways to do it while you’re stuck at home in quarantine In 2020

You may not want to think about end-of-life planning, especially if you’re young and healthy.

However, the current pandemic has highlighted the need for all of us to think about our end-of-life wishes.

You can write your own will as long as you pay attention to your state’s laws to make sure it’s valid.

While you’re at it, draft an advance healthcare directive as well. This tells your doctor and your family what end-of-life medical care you want.

We are all going to die someday, but most of us don’t like to think about that. A recent survey by Caring.com and YouGov found that more than 30% of people don’t have any estate planning documents, such as a will or trust. 

I feel lucky that I just happened to have gotten around to updating my (very out-of-date) estate planning documents a few weeks before the Bay Area went into self-quarantine. I was able to get new documents drafted by my attorney. If I hadn’t done that, I would be scrambling to write my own will and advance healthcare directive right now. You should, too.See the rest of the story at Business Insider

Original Source: Now is the time to write your will, and there are a few ways to do it while you’re stuck at home in quarantine

Curated On: https://www.insurifind.com/

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