9 Things You Should Document for Your Estate

We all know that we should have a plan in place for our estate, but it is so easy to procrastinate, thinking that we must meet up with an estate attorney and spend hundreds, if not thousands of dollars to get our affairs in order. It doesn’t have to be difficult or expensive, and once you know the different documents you need, you’ll want to get them together right away. Don’t procrastinate, gain peace of mind that everything will be put together for your family when they need it most.

Aside from the typical list of documents that should be included for an estate, such as, your will, power of attorney, health care proxy, trusts and medical directives, I have compiled a list of information that will be extremely helpful for your family or executor when the time comes to settle your estate. Read on to learn more.

Insurance policies

This should include all insurance policies from all insurance companies. Don’t forget the life policy you have from work or the one you got when you were 20. You should also include health, home, and auto.

Investments

If you have a 401K at work or a portfolio with Edward Jones, these should be included in your estate papers. If you are retired, it’s important to note any accounts you have rolled over into personal IRAs or the like.

Family members and contact information

This is especially important for older or long-distance relatives that younger family members may not be as familiar with and know how to contact.

Advisors and contact information

Include tax accountant, lawyer, financial advisor or anyone else that may have information on your personal affairs.

Bank accounts and login information

All bank information should be included, such as credit union, checking, savings, money markets, credit cards etc.

List of passwords

Passwords are not easily recovered so having a list compiled will make it easier on your representative.

Tracking improvements to your house

This information will be necessary to give to your tax accountant and will aide when your home is sold.

List estate documents and their location

You should have a single and convenient location. It’s important to let your executor know where they can find everything for your estate.

Personal Property

This should include houses/condos, automobiles, RV’s, boats, timeshares, rental properties, and any other major personal property owned.

It can be overwhelming, to say the least, with the amount of information needed for an estate. What if I could tell you about a way to keep all the information in one place? A way to make it convenient for your loved ones when they need it?  The My Confidant LifeBook is a custom-created, highly organized compilation of all your personal and private need-to-know information that keeps everything in one place. No matter if you are a self-motivated organizer or you need assistance getting everything together, the LifeBook is the solution to your very own paperwork puzzle.

If you would like to save time and eliminate the frustrating task of trying to put the paperwork puzzle together during major life events such as illness or death, please contact me today for more information on how I can help with your Lifebook.


Tags: bank accounts, estate documents, executor, investments, LifeBook, My Confidant, personal representative

How can we help you?

General