Organize yourself now AND prepare your estate
I am not a lawyer and I do not know about all the legality questions and know it varies by state. I am a mom organizing my documents to make my kids able to go down the lawyers list and provide documentation. When they say do you have proof of xxxx, here it is!
You are not too young. You are not too old. Collect all of your official documents and money documents together for you and for them.
If I die/Estate Binder
I HIGHLY recommend keeping this document in a Fireproof/Waterproof safe/location. These are original documents that while possible to replace due to natural disaster or loss, it is less work to have them safe and available (and can help with recovery in that time, too.
While copies can be made to send to executor, I keep the originals at home with me as a working document. When we buy/sell things, change insurance, update our license, get an updated statement, change companies/refinance, etc we know where the documentation is and can use it.
Create your own Binder (SHOP AMAZON) and My Printable or shop Premade Binders (Amazon)
Estate (If I Die) Binder
Printable Binder section labels to keep all important documents for the your estate in one place. Working document now, beneficiary tool later. Digital product, no physical product sent.
Identity Information
- Birth Certificate
- Social Security Card
- Career License/Degrees
- Marriage License (Divorce papers)
- Passports
**If you have minors, have all this same information for each of them as well.**
Will/Trust/Designation
Designate an Executor
This is the person you want to take over as you when you are gone. They can sign for your, and transfer everything to the places you choose.
Designate an Power of Attorney
If you are unable to make decisions because you are incapacitated, choose someone to make decisions and sign on your behalf.
Living Will & Health directives
Who can decide, what types of life saving care do you want, what medical treatments/interventions are you ok with/dont want. A lawyer can ask you all the right questions to help you fill out this form-you do not need to create it on your own.
Designate vs Estate
In videos I mention designate to avoid probate. That was incorrect (I’m learning as I go). What I mean is designate (in whatever form your lawyer and legal council think is best for your, your state, and items in your estate).
If you do not designate a specific person as a beneficiary, it goes to the estate and split up between them.
- For example we have one car not designated. It goes to the estate. My brothers and I all own 1/3 of the vehicle. In order to sell this vehicle, we ALL 3 need to sign the title as owners. We live in different states from Dad’s DMV and each other.
It may be helpful to some in similar situations to designate vs leave to the estate.
Know the laws of your area
Every state is different so your laws may vary. Who is a dependent (step children for example) may not be the same between states. What goes to probate, how long is probate, how long do companies have to claim their fees, etc all varies by state. Consult a lawyer in your state of residence for best assistance in making sure the people you want to get things get them.
Money/ Income / Banking
Income Documents — Rule of thum, if filed on taxes, it is income.
- W2
- 1099
- CDs
- Bonds
- Retirement/401K
Life Insurance
- Not taxed but income they will get
Banking Information
- locations
- account numbers
- ONLY IF THE EXECUTOR IS A BENEFICIARY, consider putting the executor’s name on bank account to have access to information
- If the account is “payable on death POD” it is possible to get access to this account and use (to pay current fees/bills/lawyer/memorial) Likely will need to provide Death Certificate
Expenses/Bills
When are they due? What is the company? Is it auto pay set up or manually have to pay?
While you are using this as a working document it can help you keep track.
When you pass it can help them move accounts in time (no lapse of service)- like utilites, cancel anything you wont be needing/dont want to be charged for, avoid depletion from checking/usable income, and avoid late fees/interest if they paid manually.
Credit Cards
Depends by state. Some credit card debt is forgiven, some can take it out of the estate. To avoid interest and late charges OR just to stop the ability of it being charged/submit death certificate (with out paying) you know who to call and by when.
Utilities/home maintenance
If you need the utilities and home maintenance to keep going, you may need to change the billing account to one of the beneficiaries to avoid a loss of service
- Gas
- electric
- water
- pest control
- security systems
- cleaning services
Car (& other vehicles)
Jetski, ATV, RV camper, motorcycles, boats, etc
Title
If you own it, have the original title available to be signed over to beneficiary.
Loan information if still paying
Beneficiaries will need to pay this off to obtain the item (title)
Insurance & Registration
If you want it to continue to be insured and able to be driven (registered) make sure you have these included so you can have all plan information and renew/transfer.
Property
Deed
If you own it, have the original deed available to be signed over to beneficiary.
Loan information if still paying
Beneficiaries will need to pay this off to obtain the item (deed)
Insurance & Tax Documents
Keep the home protected, have these included so you can have all plan information and renew/transfer.
Tax documents can give you a property value
Stocks
Certificates
If you own it, have the original certificates available to be signed over to beneficiary.
Approx value/statements
Include last statement to have an approximate value of the Stocks
Contact Information
If you have a person for that, share that person
- Lawyer
- Brokers
- Bank
- Insurance
- Loan/lenders
- HR at work
- Taxes
Digital Data- Legacy Contact
Log In & Passwords (& Pins)
Taxes
They have to file your taxes so if you would need it for taxes, collect it here. That way its together for your and for them should you not be here to do them.
Our lawyer suggested 3 years of tax returns so including these OR noting the location of these would be beneficial as well.
Memorial instructions
- If you have any preferences of what you do and do not want once you pass, include them written out here.
- One less decision for your beneficiaries to have to make if you tell them what you want.
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