Documentation to Have In Place Before Death
As a person gets older, it's necessary to ensure all the documentation is in order. We all have several different types of documentation to keep, including legal, financial, medical, contacts, real estate-related, etc. It's also vital that you make sure that this material is reviewed and updated so that after your death, your family won't face any problems in managing all the legal modalities.
Keep the Records Readily Available
Certain people consider the prospect of death upsetting, and that is why they prefer to neglect properly maintaining all their paperwork. However, if you have a debilitating illness or meet with an accident, if you have all your paperwork in place, it makes life easier for your family.
Besides that, it is crucial that this documentation is readily available to them, and you need to keep at least one of your family members updated about the location of all this documentation.
Certain other documents you need to prepare, include:
- Power of attorney
- Investments in various assets
- Your Will
- Bank accounts
- Financial cards
- Living will
- Life insurance, medical insurance, vehicle insurance
- Utility registration
- Information related to mortgages loans etc.
- Subscriptions and memberships
It's a smart thing to preserve the original records and several copies for easier access in case of death. As pointed out earlier, keep at least one member of the family updated about precisely where you have kept all the documents. You should always keep your lawyer in the loop about it and their location.
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