When you plan to name someone as the executor of your estate, you are sharing a message of great love and trust. As you are making that person in charge of handling all your affairs when you are not able to do that, you are leaving a lot of work for them. Wrapping up estate planning Wisconsin is time-consuming and requires attention to detail.
Your executor will always remain grateful to you for your efforts. However, you can make their job easier by investing your time in some steps. Here we have listed a few steps to ensure that your documents are accessible, organized, and prepared for your estate executor.
Build a Checklist of Important Documents
When it is about organizing your estate documents, the very first question that every people ask is: What do I need to include?
Undoubtedly, there are various essential documents that everyone needs to maintain in their estates, such as a birth certificate, a will, and financial account details. However, the exact document checklist varies from person to person. The following documents are the starting list for executors:
- Personal information
- Legal papers
- Financial accounts and records
- Property records
- Insurance records
Create a List of Name and Contact Information of Key Associates
You may not foresee every issue during the execution of your estate. Therefore, you can make it easily available to your estate attorney Wisconsin by providing the list of your key contacts, including their name, phone number, email address, and postal address of them.
Your list includes:
Executor, financial advisor, accountant, health care proxy, attorney, doctor, clergy, durable power of attorney, insurance agent.
It is essential to make multiple copies of this list and share the location and access to your loved ones. To maintain accurate data, you need to update it periodically.
Catalog Your Digital Asset Inventory
Along with the physical and financial assets, many physicians keep their valuable data and information in their digital assets and social media accounts. Therefore, make a list of all your usernames, passwords, and security questions so that it becomes easier for your executor as well as for your estate planning attorney Wisconsin. Here is the list of different digital assets and social media accounts:
- Home, and office desktops, laptops, cell phones, and tablets.
- Email accounts
- Social media accounts
- External hard drives
- Cloud storage
- Digital subscriptions
Documents Need to be Organized and Accessible
Once you have done with the inventory of all the essential documents, it is time for you to make sure that all these documents are accessible to your loved ones. All these documents must be sorted into relevant sections. Place all of them in a secure area that is accessible only to your trusted people so that when they need them, they can use them in estate planning Wisconsin.
Constant Modification Required in Your Estate Documents
All of the steps mentioned above are helpful as long as all the data and information are accurate. Therefore, to maintain accuracy, constant tweaks are required in the data.
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