Organizing Estate Documents
Organizers are binders that can help gather important data and documents that will be needed in case of disability or death. Organizers usually include lists of advisors, assets, debits, passwords, and preferences for personal care and finances. Below are tips and resources to help clients organize
important documents and personal information.
Tips
Benefits. Helping clients organize personal
information is an important service. Clients often procrastinate or overlook gathering
their personal documents and information. During life, personal information is
needed by caregivers when a health emergency or prolonged illness impairs
physical or thinking ability. After death, personal information and documents
are needed by executors and family to administer estates, close accounts, and
transfer assets.
Content. Organizers can
be used to assemble important documents like birth certificates, deeds,
marriage licenses, military discharge papers, and social security cards. They can
also list personal information like details of accounts, advisors, assets, contracts,
liabilities, passwords, and personal preferences in case of illness or death. Remind
clients to include passwords to email, photo, and social media accounts.
Formats. Alternatives for organizing
include entering data into word processing documents, uploading into online
archives, and handwriting into notebooks. Help clients evaluate formats for
ease of access, updating, and security.
Updates. Send clients an
annual reminder to update their organizer and review it with them. Check for changes in
family, finances, or health that require a change in estate planning or documents.
Storage. Determine client preferences for keeping personal
information and documents. They can be kept separately or with other estate
planning documents. Remind clients to tell friends and family where their
personal information and documents are stored.
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