Prepare with Love

Of course non of us is getting out of this life alive, that we are all pretty sure of. But some of us have avoided planning for the after life by putting off a will or making arrangements for how and where we want to be buried or cremated. Denial of death is one of the reasons, and another is that we just don't take the time to take care of this important planning piece of our lives.

When my father died at 57, my mother was left with more questions than answers. I remember walking into her apartment one day and she was sitting at the table with piles of bills, insurance policies and other important papers. She had that overwhelmed look on her face that said, "help me, please." We sorted through what we could and then went shopping, which was a great diversion for a few hours until she had to return to the project at hand. Dad had been the bill payer, breadwinner, and basically handled the paperwork for the family. Mom was now clueless going forward, having to settle outstanding debts mostly and notify the life insurance company. Those kinds of stories are the impetus for us to light a fire under ouselves. We don't want our loved ones to be left with a mess.

AI gives further info on this topic:

Preparation means peace of mind. Getting that job done is a loving project for us to finish so that the information is there for the family when we are gone. Believe it or not, having had that information finished or updated can help us the ones who are leaving the legacy to sleep better too. AI gives us a checklist:

To prepare for will planning, gather personal identification (SSN, birth/marriage certificates), a detailed list of assets (property deeds, bank accounts, investments), documentation of debts, and beneficiary information. Also identify your executor, guardians for minors, and prepare digital account information.

Here is a comprehensive checklist of items to gather:

1. Personal Information & Identification

• Identification: Driver’s license or Social Security Number.

• Legal Documents: Birth certificates, marriage licenses, or divorce decrees.

• Family Information: Full names, addresses, and birthdates of beneficiaries and potential guardians for minor children.

• Executor Selection: Name of the person who will manage your estate.

2. Financial Assets & Property

• Real Estate: Deeds for homes, vacation properties, or land.

• Bank Accounts: Statements for checking, savings, and CDs.

• Investments: Stocks, bonds, and mutual funds.

• Retirement Accounts: 401(k), IRA, and annuity details.

• Life Insurance: Policies and beneficiary designations.

• Personal Property: A list of valuables, such as jewelry, art, and family heirlooms.

• Business Interests: Documentation for business ownership, such as partnership agreements.

3. Debts & Liabilities

• Loans: Mortgage documents, car loans, and student loans.

• Credit Card Statements: A list of all active accounts.

4. Digital Assets

• Accounts: List of social media profiles, email accounts, and websites.

• Digital Files: Information on cryptocurrency or digital photos.

5. Other Important Documents

• Tax Returns: Recent tax filings.

• Existing Legal Papers: Old wills, trusts, or powers of attorney.

• Funeral Plans: Pre-paid funeral arrangements or burial plot information.

6. Advance Directives (Optional but Recommended)

• Health Care Proxy: Names someone to make medical decisions.

• Living Will: Specifies end-of-life care wishes.

Ensure you have a complete picture of your financial situation, as this makes the estate planning process smoother. Store these documents in a secure place, but avoid locking your only copy of the will in a safe deposit box, as it may be hard for your executor to access.

• Once it's updated, be sure to destroy old copies of your will. Let your