You can make life easier and less expensive for your heirs if you provide them with these basic lists, say financial planning experts.
* Bank and credit card accounts. List the name of each institution, type of account, the account number, telephone number and password for each. Tell where the account statements are.
* If you have an attorney or financial planner, provide the person's name and contact information.
* Make a list of recurring bills and loan payments. It's especially important if payments come directly out of a checking account. Tell heirs not to close accounts until arrangements have been handled.
* List your life insurance policies and contact information so heirs can collect what they are due and cancel policies that are no longer needed. In this case, ask for premium refunds, which can amount to hundreds of dollars.
* List all email addresses you use and account passwords if any. This will help heirs find bills you have and notify acquaintances of your incapacity or death.
* Make a list of money that should come in during your life and/or after your death. Include pensions, Social Security benefits, veterans' benefits, payments on loans you made to others and life and disability benefits.
* If you are retired, make a list of minimum annual distributions you are required to take from retirement accounts. Your heirs could face penalties if they fail to take distributions in the year of your death or incapacity.
* List the locations of your important documents, including your will, estate planning documents, tax returns, deeds, titles to vehicles, insurance contracts, your birth certificate, military discharge papers, mortgage and loan documents, and marriage and divorce decrees.
* Tell the location of any safe-deposit boxes and where to find the keys.
* Bank and credit card accounts. List the name of each institution, type of account, the account number, telephone number and password for each. Tell where the account statements are.
* If you have an attorney or financial planner, provide the person's name and contact information.
* Make a list of recurring bills and loan payments. It's especially important if payments come directly out of a checking account. Tell heirs not to close accounts until arrangements have been handled.
* List your life insurance policies and contact information so heirs can collect what they are due and cancel policies that are no longer needed. In this case, ask for premium refunds, which can amount to hundreds of dollars.
* List all email addresses you use and account passwords if any. This will help heirs find bills you have and notify acquaintances of your incapacity or death.
* Make a list of money that should come in during your life and/or after your death. Include pensions, Social Security benefits, veterans' benefits, payments on loans you made to others and life and disability benefits.
* If you are retired, make a list of minimum annual distributions you are required to take from retirement accounts. Your heirs could face penalties if they fail to take distributions in the year of your death or incapacity.
* List the locations of your important documents, including your will, estate planning documents, tax returns, deeds, titles to vehicles, insurance contracts, your birth certificate, military discharge papers, mortgage and loan documents, and marriage and divorce decrees.
* Tell the location of any safe-deposit boxes and where to find the keys.
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