Optimize your estate planning by making key documents easier to find.
You cannot organize when you are dead.
Your loved ones will be left to deal with the mess you left ... and you will be unavailable to assist.
Do you want to make things easier on your loved ones?
According to a recent The Daily Record article titled “How to organize your affairs if you are a senior citizen,” you should start preparations now.
First, pull together all your important information.
What information is important?
Gather your estate planning documents.
This could include a combination of the following:
- General Durable Power of Attorney
- Advance Health Care Directive
List your records and related information.
What might these be?
- Retirement accounts
- Insurance policies
- Property deeds
- Tax records
- Contact information for your estate planning attorney, insurance agent and accountant.
- A list of the medications you take
- Lists of medical conditions and allergies
- Social security
- Birth certificate
- Marriage license
- Military discharge papers (i.e., your Form DD 214)
- Locations and passwords for safes and security alarms
- Service providers
- Pet care instructions
- Organ donation instructions
- Funeral arrangements
What should you do once you have everything?
Keep it secure.
Put it in a fireproof safe.
Are you done?
You need to let your loved ones know where the documents are and how to access them when you pass away.
Make sure someone (or two) has the combination or key to access when needed.
Another benefit from organizing your documents?
They will be easier to update after major life changes.
What if you do not already have an estate plan?
Seek out an experienced estate planning attorney and get to work.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: The Norman (OK) Daily Record (January 2, 2017) “How to organize your affairs if you are a senior citizen”