Have You Thought About Or Documented Immediate Action Steps If You Were To Pass Away?

The process of estate planning asks you to think about many things that are important to you, the assets you own, the liabilities that may be owed to creditors, and what you want to happen to your property after you pass away. However, there may also be more immediate concerns that may need to be documented for your closest loved ones, like a spouse or your appointed personal representative to find.

Immediate Action Steps for Estate Planning

These can include things like:

  • Getting multiple copies of your death certificate
  • Appointing someone to keep an eye on your home during a memorial or funeral service, since robberies can occur when burial plans are publicly available.
  • Having a facility located or a person prepared to take care of any of your pets.
  • Maintaining a list of financial accounts such as credit cards that you wish to have your personal representative or executor shut off immediately, so as to protect the value of your estate.

Protecting Against Elder Fraud

Unfortunately, the increase in elder fraud has made it challenging for surviving family members and executors to keep track of all of the details associated with a loved one’s estate. Your loved ones may not even realize that your credit card has been used, that new accounts have been opened in your name, or that your home is exposed to potential robbery risk.

Having these conversations now as part of your bigger estate planning process, and then ensuring that you have all the necessary documents in place can give you peace of mind and your loved ones a clear roadmap to follow if something happens to you.



Tags: No tags

Comments are closed.