When a loved one passes unexpectedly, the grieving family member or friend is often thrown into a complicated process of sorting through their loved ones affairs. This can make an already difficult time feel very overwhelming! So, one of the most thoughtful gifts you can give to your loved ones is to prepare your affairs in advance and make it a point to update them annually.
Some of these documents are legal ones that protect your finances and last wishes when or if you are unable to express them yourself. Others are the roadmap to understanding the current state of your assets, liabilities and insurance policies. Lastly, providing contact information and a list of important passwords greatly simplifies the process for reviewing and closing affairs appropriately.
END OF LIFE PLANNING DOCUMENTS:
- Durable Power of Attorney for Finances
- Durable Power of Attorney for Health Care
- Living Trust
- Living Will
- Last Will and Testament
- Insurance Documents
ASSETS AND LIABILITIES:
- Real Estate/Mortgages
- Savings Accounts/Plans
- Checking Accounts
- Investment Accounts
- Life Insurance
- Pension/Retirement Benefits
- Outstanding Loans
- Other
LIST OF PEOPLE TO CONTACT AND WHERE THEY CAN BE REACHED:
- Anyone named in your will
- Beneficiaries of your:
- IRA
- Annuity
- Life Insurance
- Other
- Your Attorney
- Your Financial Advisor
- Your Executor/Trustee
PASSWORDS
- Email Accounts
- Bank Accounts
- Credit Cards
- Social Media Accounts
Julie Newcomb, a Certified Financial Planner™ in Orange County, CA, specializes in financial planning for women. As a wife, mom and business owner, Julie understands the pressures and challenges most women feel on a daily basis as they juggle many important priorities. Julie’s favorite thing about her job is the ability to give women peace of mind when they entrust her with their finances. To learn more about Julie Newcomb Financial, go to julienewcomb.com.