Sometimes, adulting is hard. But biting that bullet is necessary to ensure that your house is in order. So make this year you sit down and file all the important paperwork. Check out these five things every parent should have on file in case a tragic life event occurs.

1. A Will

Will requirements vary from state to state. In some states, if an individual dies without a will the state inherits half of all assets! While no parent wants to think about their child's life without them, now's the time to create a will. It's best to draw up a will with a certified estate planner, but a cheaper, quicker option would be to download a will from a law site such as Legal Zoom (where wills begin at $69). Important items to consider include guardianship care for your child, who will act as your executor, and how you'd like your financial assets (including your home) divided.

2. File on all Financials

Do you know your partner's password to bank, credit card, and investment accounts? Can you name all of your family's financial assets? If tragedy struck tomorrow could you access everything your family has regarding investments? If not, then it's time to sit down with your partner and create a list of all assets and access to them. This is particularly important if one spouse handles most of the family's investments including stocks, IRA accounts, and/or college accounts.

Related: Spend, Save, Share: How to Teach Financial Literacy to Kids

3. Insurance Policies

Do you currently own insurance policies? Life? Home? Auto? Accident? Gather up all the information and assess its benefit to you. Is it time to shop around? It's a good idea to keep a separate file on all insurance policies and review if your family can bundle any under a single provider to save on insurance premiums.

4. Health Care Proxy and Advance Directives

If an unforeseen health crisis strikes you or your partner, it's important to have established both a health care proxy as well as an advance directive. A health care proxy is a form granting an individual of your choice the power to make health care decisions on your behalf. It's also nice to have a back-up; for example, if you and your husband are in a car accident and he was your proxy, you may find yourself in a tricky situation. Be sure whoever you name clearly knows your wishes regarding treatment. An advance directive is a document explaining your healthcare preferences; it's imperative to create and update this document while you are well and in sound mind.

Related: Surviving a House Fire: What No One Tells You

5. Rainy Day Fund

A conservative rainy day fund should cover at least three months of your family's expenses. Sit down and calculate your family's expenses for a single month and multiple by three. Be sure to include major expenses such as mortgage/rent, car payments, insurance payments, and healthcare. Next, review family expenditures on groceries, utilities, subscriptions services like cable, clothes, medicine, and school expenses (supplies, field trips…). Consider opening a new account and setting up an automatic deposit to move money monthly into the rainy day account. If you don't see the money, you'll never spend it and the rainy day account will grow more quickly!

Accomplishing these tasks may seem morbid and overwhelming, but simply take each task one step at a time. While some may require courageous conversations, others, such as filing a health care proxy can be finished in less than a week. Treat yourself when you're finished-you'll deserve it!