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Get Started :  Estate Planning

Estate Planning What Your Heirs Need to Know

You probably know where your important documents are located. But your heirs may not. If you die without passing along this information, you are jeopardizing your family's financial welfare. Advance planning will keep your family from scrambling to find what they need during an emotional and confusing time.

Estate Planning Diary

If you want to make sure your affairs are in order before you check out, you should consider keeping an estate planning diary. This document is a simple list that provides a roadmap for your heirs to follow should you die. Your heirs can quickly refer to it to find important information like funeral arrangements, the location of insurance policies, and types of assets or liabilities that you own. An estate diary lets you inventory all of your finances in one place.
 
You should store your diary in a safe place such as a lock box or file cabinet. And be sure to tell your loved ones where it's located so they will know where to find it should the need arise.

Contents

So what items and information should you document in an estate planning diary? The following list is a good place to start:

1) Important Documents:

• Wills.
  
• Living Wills.
  
• Trusts.
  
• Durable Powers of Attorney.
  
• Life Insurance Policies.
  
• Health and Dental Insurance Policies.
  
• Automobile Insurance Policy.
  
• Disability Insurance.
  
• Other Insurance Policies.
  
• Safe Deposit Boxes.
  
• Lock Boxes.
  
• Deeds.
  
• Titles.
  
• Receipts from major purchases.
  
• Income Taxes from previous years.
  
• Birth Certificates.
  
• Marriage Certificate.
  
• Divorce Decrees.
  
• Social Security Card.
  
• Passport.
  
• Title and Registration of vehicles.
  
• Inventory of home furnishings.

2) Associate Information:
     (Name, Number, and Address)

• Attorney.
  
• Executor.
  
• Accountant.
  
• Financial Advisor.
  
• Broker.
  
• Insurance Agent.
  
• Trustee.
  
• Physician.
  
• Tax Advisor.
  
• Employer.

3) Family or Friend Information:
     (Name, Number, and Address)

• Immediate Family Members.
  
• Distant Relatives.
  
• Pets.
  
• Local Friends.
  
• Distant Friends.
  
• Associates.

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