If you’re stuck inside during the COVID-19 lockdown, you might have some extra time to think about your estate plan.
One of the most important things you can include in your estate plan is a personal letter. This would be a perfect time to gather the following information and write a letter as a helpful part of your legacy.
12 Important Topics to to Include in Your Estate Plan Letter:
- A list of all of your assets and the location of any assets that may not be readily accessible
- All of your account information, including passwords, PIN numbers and account numbers, for any bank accounts, retirement accounts or life insurance policies.
- Contact information for anyone who helps you with your finances, including attorneys, brokers, bankers and financial advisors.
- Informal directions about how you would like the trustee/executor to disperse your heirlooms or other sentimental possessions.
- If you’d prefer people to make donations in lieu of flowers at your funeral, information about which charities you prefer.
- Where your trustee/executor can find your most recent tax returns, social security statements, birth certificate and other important documents.
- Where your trustee/executor can find any real estate titles/deeds or oil and gas leases, etc.
- Your Social Security number
- Where your trustee/executor can find any divorce, citizenship papers, military records or applications.
- Contact information for any creditors (mortgage, car, credit cards, etc…)
- If you have pets that will need a home, who should your trustee/executor contact when the time comes. Include any information that your pet’s new owner would need to know (food, medications, allergies, favorite bed or toy, vet, etc…)
- Words of Wisdom
Just copy this list into a document and start filling in the blanks. This letter will be an invaluable gift.
Don’t forget to make yourself a copy… keep it somewhere securely and you might even find yourself referring to it often to find contact information and important information!
