What are the most critical pieces of personal information for you to compile and organize???For our client event on February 7 and 9, Jennifer Carlson, an estate planning attorney in Council Bluffs, presented as our guest speaker.
One of the most caring things you can do for your loved ones is to prepare a portfolio of your important documents. ?This is an often overlooked part of estate planning. ?Portfolio preparation consists of organizing all of your important documents in one location with user names, passwords, and verification information.
At the time of one?s passing, family members are grieving, and it is often difficult for them?to identify the assets you own, locate passwords/keys, and retrieve necessary documents.??Because none of us knows when our portfolio will be needed, compiling your portfolio information is a task that cannot ?wait until later.?
While each person?s portfolio will be different, following is a list that covers the most common documents.? This list can prompt you to consider additional items that need to be part of your personal portfolio as well.
Personal Data:
- Marriage license
- Divorce/Separation documents
- Social Security information
- Military service information
- Tax returns (including tax information to prepare current tax return)
- List of advisors
- Safety deposit box information
- Prepaid funeral arrangements/Cemetery plot documents
- User names, passwords, verification questions
Assets:
- Real estate deeds
- Vehicle/Motor home titles
- Stocks, bonds, investments
- Cyber assets (web page, domain name, blog)
- LLC, partnership, corporate documents
- Installment contract, promissory notes
- Bank and/or credit union accounts
- College savings plans
- Life insurance policies
- 401(k) and?similar accounts
- Individual retirement accounts
- Pension documents
- Annuity contracts
- Job-related benefits
- Fraternal benefits
Estate Planning Documents:
- Will
- Trusts
- Letter of instructions
Medical:
- Medical history
- Health insurance information
- Long-term care insurance policy
- Medical power of attorney
- Living will/Do Not Resuscitate order
Financial Power of Attorney:
You may choose to keep hard copies organized in files, or you can make use of a virtual vault such as is provided through ?eMoney.?? Available through Dickinson Investment Advisors, ?eMoney? is a secure online system for you to be able to view, organize, monitor, and store the combining of all your financial information in one place.
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[Note:? Jennifer A. Carlson is an attorney with Stuart Tinley Law Firm LLP in Council Bluffs.? She practices primarily in estate planning, probate, wills, and trusts, and can be reached at 712-322-4033.? Stuart Tinley Law Firm LLP and its predecessor partnerships have been practicing in Council Bluffs for 150 years.? The firm is a full
service multidisciplinary law office serving the Council Bluffs/Omaha metro area, southwest Iowa, regional, and national clients.]
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