Many of us have taken the time to create an estate plan but the question we are left with after is—what now? Do we file the documents away in a safe place leaving them to collect dust until the day comes when we need to pull them out? There are actually several steps you should take after completing your estate plan.
1) Get Organized
To make things as easy as possible for the ones you leave behind, it’s important you are organized. Create a detailed list of all your assets so each can be accounted for. Some examples include:
- Account numbers for financial accounts
- Out of state property
- Insurance policies (including those with your employer)
- Mineral interests
- Business investments
2) Inform the People You Have Chosen
You should take the time to meet with each person named in your estate plan documents. It’s important that they understand their role in your future and the future of your loved ones. Also, make sure they know where to find any necessary documents to fulfill your requests. If you keep your documents in a safety deposit box then make sure you add another signer, other than you or your spouse, so your estate plan documents can be accessed without having to get a court order.
3) Create a List of Contacts
If you become incapacitated or pass away there are many people involved in your life, outside of family and friends, that need to be notified. Create a list of names and contact information of everyone who plays a significant role in your life, such as:
- Financial planner or personal banker
- Business associates
- Groups you have committed to
- Employer
- Personal organizations
Law Offices of Debbie J. Cunningham
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