Keep Track Now
You've created your estate plan. You have people in place who will settle your estate for you after your death. It is a good accomplishment and a sense of well done. What is next?
Make it easy to do the job: Next is the work to help them, help you. While your Trust or Will does the job of specifying how you want your estate to be distributed, much of what supports that work happens outside of those documents. What you need to do now is create and maintain a list of your bank accounts, financial institutions, credit cards, internet accounts, real estate property (deed location). Provide contact information; account numbers, account passwords (e.g. for internet access). Include business, personal and associations contact information.
All in one spot: The key advantage to the person you will rely upon is that this information is all in one spot and that they know where to look and how to access it.
Review and Revise: As you know this information is always in flux. Review and revise this your list routinely. Make it an annual ritual at a date that will easily trigger your remembering to do this task, like New Year.
Confidentiality & Security: Safeguard this highly sensitive information. Keep it in a safe deposit box, a locked safe, a securely password-protected file. Give only your appointee(s) the information necessary to access that list, so that they have it when the time comes.
Your Life. Your Legacy. Your Way. Confluence Law Center, serving Clackamas, Hood River and Multnomah Counties.
Confluence Law Center
24461 E. Welches Road, Suite 4
P.O. Box 964
Welches, OR 97067