Tis the season for giving! As we know, some of the best gifts can cost nothing yet be so meaningful. As you ponder what to give your loved ones this year, consider the gift of “getting your ducks in a row.” Would your loved ones know what to do in the event of your death? Who to call first? Where to find everything they need? You can provide much of this information and make their lives easier in a difficult time. Consider a designated place in your home where everything can be found (safe, file cabinet, fireproof box, etc.). In that place you can leave the information your loved ones would need, including:
- Keys/entry codes to safe/safe deposit box.
- Copies of prepaid funeral contacts
- Wishes for funeral/burial/cremation
- Original Will
- Location and addresses for real estate, including time shares
- Names of accounts, account numbers, types of account, where accounts are located
- Contact information for financial advisor, accountant, and attorney.
Do you have “digital” assets? This includes email accounts, social media accounts, online photo storage, travel points, shopping accounts/apps, gambling accounts, and cryptocurrency accounts, among others. Consider providing your loved ones with usernames, passwords, and other login credentials needed to access these accounts, as well as the passcode for your mobile phone. This can be done “offline” in a written document kept under lock and key or by using an “online” password manager (there are many available) for which you provide your loved ones with login credentials. Not having this information can create obstacles for your loved ones and result in lots of additional time spent trying to gain access to your information and assets. Providing easy access to all of this information is like leaving a gift wrapped up for your loved ones, and one they will treasure.
Amy Shue Isaacs, Estate Administration/Probate Attorney
The McIntosh Law Firm, P.C.
https://www.mcintoshlawfirm.com/attorneys/amy-shue-isaacs/
704-892-1699