After I'm gone instructions...

[mystang52]

I have a 12-page document for DW, sorted by various categories, that covers all of our finances, bills, etc. One page is titled: In Event of My Death, and explains who to contact, URL's, phone #'s etc.

[ckelly78z]

My DW, and I need to do this so there is no confusion after our passing. It would also be beneficial to list any items that have value that may not be obvious, and an estimate what it is worth, and how/who to sell it to get the most $$.

Maybe include some direction for who gets what if both of us pass at the same time.

[slingshot]

Quote:

Originally Posted by MBAustin The Big Book of Everything is another one: The Big Book of Everything Organizes Important Personal Info It's free and available in both Excel and PDF.

This is what we use. Big Red Binder and the kids know to look for it in the event something happens to both of us. It does take a bit to maintain but you get used to it.
Dogs have medications and suppliers listed and horses do too.
It's comforting to me to know that I've left things "tidy".

[rk911]

Quote:

Originally Posted by SumDay I recently saw a template for a downloadable list of things for your family to do after you've kicked the bucket. Like who the executor is, where the money and insurance are, who gets the house and grandma's china that no one wants, etc. It was a Facebook ad, and now, of course, it's nowhere to be seen. Search was zero help. I like the downloadable idea much better than a book, because things like banks, investments, etc., can change, and it's easier to update on the computer than marking up a book. Anyone have something they've used and like? Or have heard of? Seems like a good use of my time right now to make life easier for the kids while I'm dirt napping.

i have prepared an "Emergency Book" with much of the same information. my wife and sister are not techy so the documents reside on the PC but are kept in a 3-ring binder for them. our finances don't change much.

[NXR7]

Quote:

Originally Posted by JustCurious That's true if the beneficiary were changed after death, but what if someone logged in with the primary account holder's credentials and changed the beneficiary designations before death...i.e. while the primary account holder was demented, or incapacitated, or ill and dying? Who would know? A lifetime of estate planning on the part of the primary account holder could be wiped out while they are lying on their death bed and no one would be the wiser.

Depending on who is getting the mail, changes like those are always followed up by letter so that could reveal the deception.

There's also the opposite case. My mom and one child were never close due to the kids being made to choose sides during the divorce, decades earlier, as to who they would live with. My mom cut that child out of everything which would have been devastating if they ever learned of it because as mom was dying of cancer they reconciled.

While mom was in hospice I used my durable general POA, which granted me legal access, to assure that all accounts listed all kids in equal amounts. Some accounts had no beneficiaries. I removed my brother as a beneficiary on some accounts because he had passed 35 years earlier.

Her home was put on a "transfer on death" title a few years earlier so I couldn't do anything with that in time but because all accounts now had valid beneficiaries I never had to open the estate. My sibling to this day never knows what almost happened and they never will.

So the situation can cut both ways although I used a different method.

[target2019]

This is my recipe for “The Big Binder.” Its location in my office is known by immediate family. It contains a letter originall written in 2009, and has revised by me yearly. In the binder are Wills, letter with my ideas and intentions, statements, and an overview to our finances. We've learned first-hand how useful this can be to those left behind. We've also seen how devastating are consequences when you don't inform your children. A digital approach is also possible, but I know that would grow stale, and not receive the latest updates.

1. The binder is a 2" slant D-ring with 31 dividers and index. We had many of these “slots” filled, but over time some were deleted. So use a pencil on the index page!
2. Wills are included.
3. The letter of instruction is printed out and included. Updating this yearly ensures the intent and information is current.
4. There is a graphical overview so that the relationships between all accounts and sources of income can be understood quickly.
5. There are statements for all accounts, so that the account numbers are known to children when they need to know.
6. Copies of licenses and registration, and titles are included.

As time goes on and we realize how daughter will be more involved, I tailor the information for her, a little bit at a time. Computer passwords are very important to know. We've also started using a family password account (1Password) in a limited fashion.

[jollystomper]

We have a document we share with our kids via an online cloud storage service. We update it when we decide on something or if something changes in those plans.

For financial/sensitive information, we have "codes" in it that can only be deciphered with a couple of items that have copies on our house and in our safe deposit box. In the event of both of us passing together, each child has partial information that they need to combine and work together to access some of the financial items.

[gauss]

Quote:

Originally Posted by NXR7 Depending on who is getting the mail, changes like those are always followed up by letter so that could reveal the deception. There's also the opposite case. My mom and one child were never close due to the kids being made to choose sides during the divorce, decades earlier, as to who they would live with. My mom cut that child out of everything which would have been devastating if they ever learned of it because as mom was dying of cancer they reconciled. While mom was in hospice I used my durable general POA, which granted me legal access, to assure that all accounts listed all kids in equal amounts. Some accounts had no beneficiaries. I removed my brother as a beneficiary on some accounts because he had passed 35 years earlier. Her home was put on a "transfer on death" title a few years earlier so I couldn't do anything with that in time but because all accounts now had valid beneficiaries I never had to open the estate. My sibling to this day never knows what almost happened and they never will. So the situation can cut both ways although I used a different method.

I am not a lawyer, but I did read the law pertaining to this in my state when I drafted POA for DM and DMIL.

Technically what you did may have been unlawful if your mother did not consent/agree to this. Legally POAs are only to be used to execute the wishes/best interests of the writer, as opposed to a substitute conservatorship.

I think this is one of the reasons that many institutions do not honor POAs (ie they can make a business decision not to, unlike a full blown conservatorship overseen by a court).

[Nemo2]

Quote:

Originally Posted by mystang52 I have a 12-page document for DW, sorted by various categories, that covers all of our finances, bills, etc. One page is titled: In Event of My Death, and explains who to contact, URL's, phone #'s etc.

Wow.....my wife knows everything I know, (probably more), and could effect a smooth transition, (after she double bags what's left of me and drags it to the curb), without blinking an eye.

[JustCurious]

Quote:

Originally Posted by NXR7 Depending on who is getting the mail, changes like those are always followed up by letter so that could reveal the deception. ... So the situation can cut both ways although I used a different method.

I agree that the situation can cut both ways, and it seems like you did the right thing, but in your case was there a follow up letter? Did it reveal what you did? So why is it not the case that changes could be made in the other direction without being revealed?