Recently
@yogibearbull linked in 'off topic', an estate planning article he wrote for a news publication.
Considering the vast knowledge and experience here, this topic deserves a full overview here; for the benefit of all involved in our lives.
I'll place next, the text of a Word document we produced about 25 years ago. This document has had many adds over the years.
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PERSONAL INFO FOR (NAMES)
UPDATED/EFFECTIVE DATE = XXXXXXXXXX
NOTE !!!!! The below listings would be used in conjunction with any of the following legal forms that should be established for and by you for yourself and family members:
WILL, TRUST (there are many trust styles; i.e., revocable living trust, irrevocable, etc.)
https://store.kiplinger.com/family_records_organizer_download.html GENERAL POWER OF ATTORNEY, DURABLE POWER OF ATTORNEY FOR PROPERTY AND MONIES, LIVING WILL AND/OR DURABLE POWER OF ATTORNEY FOR HEALTH CARE and HIPAA authorization and release form (allowing release of pertinent private medical information to authorized persons)
SOCIAL SECURITY NUMBERS:
*** full legal name, ssn#
DRIVER LICENSE #’S:
*** full legal name
HEALTH/DENTAL INSURANCE; names, policy type & numbers, contact phone #’s
MEDICARE, MEDICAID OR OTHER FEDERAL OR STATE RELATED
***relative information for any of these or related documents/forms
CREDIT CARDS:
*** issuers, card numbers, their phone #’s, etc.
INSURANCE POLICIES:
-home
-auto
-life
-other
ELECTRONIC DEVICES UNLOCKS: passwords, keypad method, thumb, facial or voice
RECIPIENT/BENEFICIARY MONIES FROM OTHERS OR A BUSINESS:
-are you listed in someone’s will/trust/business agreement that should be documented here? Is someone your beneficiary and needs to made aware of this?
PERSONAL AND REAL PROPERTY:
-real estate, cars, and personal property (collections, artwork, boats, jet skis and anything else one considers that others need to be aware of.
ALSO indicate as to what property is PAID IN FULL and OWNED
LIABILITIES:
-home mortgage
-home equity loans
-auto loans
-all other monies owed to a third party
* provide all pertinent information regarding these liabilities: what, where, who, etc.
PERSONAL RETIREMENT ACCOUNTS:
401K, 403B, 457, IRA’S, COMPANY PENSION PLAN:
*vested company pension plans may be set with a spousal/beneficiary statement
CHILD/CHILDREN ACCTS (EDUCATIONAL, 529, SAVINGS, ETC.):
ANNUITIES:
BROKERAGE/STOCK/MUTUAL FUND ACCTS:
Note: contact info…phone numbers, acct numbers, login info, etc.
CHECKING/SAVING ACCOUNTS: organization, acct. #’s, contact names/phone #’s
Note: whose names are on the accounts???
SAFE DEPOSIT BOX: location & box number
NOTE…..who has a signed contract for access and who has a key
PASSWORDS: home pc, pc documents, all online accounts; which may require security questions ansers and/or two factor verify with the code being sent via email or a cell phone number
DOCUMENTS LOCATION (physical papers, etc.):
NOTE……indicate where these “original” documents are located
-check book, payment books (house payment, home equity, etc.)
-will, trust, power of attorney, living/medical will, guardianship (child)
-house deed/title
-auto titles
-cemetery plot/ownership documents
-IRS/State, previous tax years filings
-passports
-birth, marriage & related documents
-business/work required license
PHYSICIAN/DENTIST & related:
-preferred medical doctors and facility, all phone numbers and related
-daily medications list
-drug allergies
-allergies
-blood type
-immunizations
-brief medical history
EMPLOYER CONTACT INFO:
-this would include pension plan contact information
-local contact info, names and phone numbers
-human resources
-coworkers
CHILD’S SCHOOL & RELATED CONTACT INFO:
FAMILY/FRIEND CONTACT INFO (email, phone/mailing address):
CPA, ATTORNEY & related:
MEMBERSHIPS, SUBSCRIPTIONS (publications, societies, etc.):
LIST OF USUAL MONTHLY BILLS (phone, utilities, cable tv, etc.)
-WHEN and how are recurring payments made? Electronic or paper check
PETS (local vet contact info):
-deposition of pet(s), upon owner impairment or death
GENERAL COMMENTS & INSTRUCTIONS related to this info listing:
******** As to the list above, one may copy and paste into a Word document as a starting document to build upon.
As expected, some areas will need to updated as needed. ALSO, the CAPS in the document I've set in BOLD, and some line items are in RED. An example(s) would be Medicare numbers changed several years ago. Most VISA and DEBIT card numbers expire every 4 years. We've had to add doctors info and medications taken (it's an age thing). We have a separate list for common recurring payments. Some are with VISA, ACH via the checking acct. and few random payments; one being a once a year payment for an inflation protected insurance policy for a high end musical instrument. This payment request arrives, in the mail, every May. We decide how to pay at that time. Also, our local real estate taxes and water/sewers bills are always sent in the mail. There isn't a payment plan that may be set.
Our Word document is password protected in a laptop, has thumb drive backup and paper copies. Your storage methods may vary; but those who need to be aware of this information need to know this, too.
An example of what may help you with gaining more knowledge are YouTube finds.
This will provide an example for TOD/POD set ups.
Ok for now. I'm ready for a nap on this hot and humid day in Michigan. I plan to add more at a later time.
Share your experiences and suggestions with all things for 'estate planning'.
Thank you.
Remain curious,
Catch
Comments
Often times a living spouse needs documentation of the other deceased spouse such as DD214 form, death certificate, SS (etc)
I agree. You bring forth a good point about such a document.
The 'document' is not intended to be for singular use. Where we've placed various sections we indicate name(s), number(s), etc. The document should include as much information as possible. Depending on how folks get along, one could include a large list of names and related information. Example: If a family consists of parents and 'x' number of minor children; then the document should be made known to other trusted adult family members and/or a family attorney, etc. We all know events happen to parents and immediate family members, requiring vital information for others to have access.