We often have questions regarding practical and financial panic after a death in the family when accounts, passwords and assets are unknown. Sometimes, a family knows an inheritance plan has been done but they can’t find the plan and don’t even know the law firm that drew up the plan. An emergency list can help avoid this problem.
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We often see people who have lost their spouses, and have no idea how to access a bank account, pay their bills, or even know what a retirement account is.
Therefore, we often recommend that clients compile a list of important assets, passwords, location of important documents, etc.
In the event of an emergency, disability, or even death, this list can help.
So what should you have on this emergency list?
- If you work with any professionals, such as lawyers, doctors, financial advisors, etc., list their contact information so that your loved ones can contact them, if necessary.
- List of all your assets and how to access them. Don’t forget to include retirement information, retirement accounts, bank accounts, etc.
- Include information about the location of your estate firm and contact information for the attorney who arranged it.
- Include information on where all your important documents are stored, such as vehicle certificates, deeds, Social Security cards, etc.
In an emergency situation, people don’t want to be bothered looking for important documents.
Life is full of uncertainties, but careful planning can help reduce the burden when you are going through a difficult situation.
Having a complete list can be of great help to your loved ones. It also ensures that your housing plans will be placed and executed as intended.
It’s also important to remember to update the list as your assets change. Keep the list current to eliminate confusion.
If you need help with your estate plan or building an emergency list, we can help.
Contact us today to help you get the right paperwork or to update your current property package. We will plan so you don’t have to worry about your future.
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