If you’ve ever known someone who’s lost a spouse, parent or significant other, then you’ve probably heard them lament about the stress of closing out the deceased estate. I’ve been through this process a few times and wouldn’t wish this job on my worst enemies.
Even if your executor has handled the family’s finances, it’s common they’ll be overwhelmed by the number of matters they have to settle in the weeks and months following your death. While they can put off some of these tasks, others require immediate attention. The key is being organized and determining what procedures to follow to settle the estate and claim their benefits.
I’ve seen many cases where survivors couldn’t find the necessary information to properly settle the estate. If you really want to look like a hero after you’re gone, consider organizing all your documents using the attached simple estate planning document tool kit or one you create on your own. In it you can list that old life insurance policy you bought years ago, the name of that financial advisor who’s holding onto all those gold coins you bought just before Y2K, the location of that storage facility with all of grandma’s antique furniture and the login credentials for your facebook account so five years after your death we’re not getting notified that your birthday is coming up.
Do it right now and don’t forget to update it annually! St. Peter might even give you a special place in heaven.