Thursday, July 24, 2014
Not having the necessary paperwork in order when you die can cost your family time, court fees, and delays in receiving inheritance. The first step is making a list of all the documents and information your family will need to settle your affairs, and either putting it in an electronic file or in one physical location. The location needs to be easily accessible, labeled, and well organized. Items that need to be included in the document bundle include:
- Your will, trust documents, and contact information for the drafting attorney and listed executor
- A list of and the account information for all financial accounts and reoccurring bills
- Policy information for all insurance and benefits plans
See Beth Pinsker, What Should be in Your ‘Death’ File, Reuters, July 15, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.