This article explains the importance of keeping
your critical personal information in a safe place, and suggests the
traditional approach of storing this information in a safety deposit
box. Of course, at PartingWishes.com you can also store this
information online using the MyMessages™ service, to be distributed to your
designated Keyholders™ at the appropriate time; a far more practical and
accessible solution to the same problem.
What Next?
December 18, 2004
Tamara Davis
Dodge City Daily Globe
So, you've planned carefully, consulted
the professionals and have your estate plan in order. Have you
considered, however, what would happen if you became incapacitated or
died suddenly? Would your spouse, family, attorney-in-fact or successor
trustee know what to do?
Would they know where to find your
estate planning documents and any advance directives you have in place
for health care? Do they know who should be notified? Are they aware of
your insurance policies and the benefits that you or your survivors
might be entitled to? Do they know what your assets are and where they
can locate information about those assets if necessary? Do they know the
names and addresses of your attorney and accountant? If you own a
business, do they know what will be necessary to keep it operating, at
least in the short term?
While you don't necessarily have to
share all information with your family at the present time, it is
important that they at least know where to find relevant information if
and when they need it. Organize information regarding assets, insurance
and advisors at this time, and inform your loved ones of where they can
find this information if necessary. Make copies of your signed health
care documents and give one to your physician and one to each of your
designated health care agents. Keep the original of documents such as
powers of attorney, titles, deeds and estate planning documents in one
location, such as a fireproof file cabinet or safe deposit box. Be
certain to add your successor trustee, designated executor or
attorney-in-fact to your safe deposit box so that he or she will have
easy access if necessary. Reviewing all of this information with your
designated agent, successor trustee or executor while you are still
competent and living could make things much easier on that person once
you are no longer in control of your affairs. After all, one of the
primary goals of a good estate plan is to make things easier for your
loved ones at a difficult time.
Tamara Davis is an attorney in Dodge
City, focusing her practice in the areas of estate planning, probate and
business succession planning.
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PartingWishes.com
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support@partingwishes.com
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http://www.partingwishes.com
