Are you prepared for the unexpected?
What would happen if you died unexpectedly? Would your family know your final wishes? Would they know where to find your will? Do you have a will?
These and other estate planning questions can be overwhelming. Even well-organized people with the best intentions might be surprised by the confusion, stress, and frustration that could be experienced by their loved ones after their passing.
Fortunately, much of that can be avoided or minimized with proper estate planning. So, what can you do to make things easier for the people you love in the event of your death or incapacity? Asking yourself these questions can get you off to a good start.
Where are your bank accounts?
Do your family members know at which banks and institutions your checking, savings, investment, and other accounts are held?
Have you written down your account numbers to assist your loved ones when inquiring about the accounts?
Where are the deed to your home and other important real estate documents located?
Do your family members know where to find them in the event of your death or incapacity?
Who are your professional advisors?
Do your loved ones know the names of your estate planning lawyer, investment advisors, accountant, and others with whom you have professional relationships?
What credit cards and other monthly bills do you have?
What banks and institutions administer the accounts?
Do your family members know this information or have you arranged for them to be able to obtain it?
Which attorney drafted your will and where is it kept?
What insurance coverage do you have?
Where are the policy documents?
Do you have a 401(k), pension, or other retirement account?
What institution is the account with?
Where are the relevant documents?
Are your family members aware of the accounts?
Do you have a safe deposit box (also known as a safety deposit box)?
Where is it located?
Does a trusted family member or loved one know where it is and how to access it?
Where are your valuables stored (e.g. jewelry, art, heirlooms, etc.)?
Who will take care of your children?
Are the proper documents in place to ensure your wishes are followed?
Have you made funeral arrangements?
Are the arrangements and your wishes written down?
Do your loved ones know about them and where to find them?
Having these things in place, before it's too late, can make things much easier on those you care about most. Need guidance on these and other estate planning needs? You don't have to have a lot of assets or spend as much as you may think to help ensure your final wishes are followed.
If you are looking for legal help with your wills, trusts, power of attorney, or other estate planning needs in Griffin or nearby areas, then call THE KP FIRM LLC. We're here to help.