Productivity & the Grave – Part 4 – Your Records

What paperwork and records do you need to keep to interrupt your loved one's life as little as possible when you go? In this forth part of 5 on preparing your estate for the inevitable passing of your hard earned assets to someone else we will overview what records you should keep. The answer is not, "Everything – just in case," nor is it "Nothing – let them figure it out." That's because the government will gladly take a huge hunk of your assets if you're not prepared (and you've already paid taxes on that money), the beneficiary of your work will have enough heartache that it's best if they don't have a (paperwork) headache on top of that, and because you probably want your kids to have no arguing over what you've left them.

Note: this is an overview for typical professionals – in all cases consult with your legal team and especially so if you're a business owner.

These are the things you need to put in one place in preparation for the last step – organizing your records, the subject of Part 5. If you don't have any of these first consult with your lawyer to see if you should. If not, just cross that item off your list

• Will
• Trust
• Abstract of Trust
• Durable Power of Attorney
• Pour Over Will
• Living Will
• List of all your savings, checking, money market, and investment accounts (Money Accounts)
• Online access for each Money Account including URL, passwords and security keys
• Statements from each Money Account – most recent or at least the year-end from last year
• Contact information for all your professional services providers – lawyer, accountant, financial advisor, business advisors, tax preparer, etc.
• Letter to your children
• Location and access for special assets from jewelry in a safe deposit box to a boat at a dock
• Special instructions to executor, trustee, friends or family
• Balance Sheet
• Burial / cremation wishes or pre-arrangement
• Deeds
• Health Care Power of Attorney
• Family contact information (all involved or beneficiary of your wishes)
• List of Credit Cards, Issuer, Account Number
• Insurance policies (Life, Auto, Home, Health, Disability)
• Military discharge papers
• Health Care Directive
• Prenuptial agreement
• Spouse's death certificate
• Your social security card / number

The first article in the series is here: Productivity & The Grave Part 1. The first article links to all these subsequent articles... Part 2 - the Conversation with Legal Resources Part 2B - the Conversation with Family   Part 3 - Resources   

Comments

[Susan]

@ Joel ~
Yeah, don't die! It's pretty astounding that we have to get all that together and manage most of it anyway - it's a 2nd job everyone has!
Susan

[Joel Falconer]

Susan, this list sure as hell reveals how unproductive it is to die! ;)