Statistics show that many people in this country die without a will.
Why? Because considering a will forces each of us to think about death, which is an uncomfortable topic for most people. However, without a will, you cannot control the way your assets will be divided after your death. You need a valid will in order to provide a smooth transition of your assets to your beneficiaries.
One more thing: Assemble your records
When it is time for your family to put your estate plan into action, they will need quick access to your records and documents.
To help them find everything easily, create a folder which includes:
- Your Will, Power of Attorney and Health Care Power of Attorney and Living Will.
- Your Birth certificate, marriage certificates, divorce agreements, and prenuptial agreements.
- Your Insurance policies, loan documents, real estate titles, and deeds.
- Your Powers of attorney, Social Security records, and burial instructions.
- The names of your banks and credit card companies with the account numbers.
- Contact information for your attorney, banker, accountant, insurance agent, financial planner, and broker.
- The person to contact at your company’s Human Resources department.
- Your passwords and log-on information for banking, investing, bill-paying, Facebook, and any other pages that contain important information