* Trust Information – If you live in California and have assets over $100,000 combined, you need a TRUST. Average cost is between $1,500 – $2000 to create one, but IF YOU DO NOT HAVE ONE, Probate court will take around $40,000 of your estate in taxes. So the difference is huge. Why not leave it all clear before you leave this earth, peace of mind!
* Will – Write something down of whatever you have on earth that you want to pass to someone. There are resources on line that can help you, go to youtube and learn what you should do.
* Book of Accounts – There are online secure apps, if you are comfortable with keeping your vital information in one place: ie OnePassword If you are not comfortable at least create some book and keep it in a safe place. (tell someone in your family or friend where you keep it) Create a page of passwords and log information to where you do business. Example: bank on line, which bank, your username, password, account #, etc.
If you have auto payments or deposits, who are they to and from and all the information on it. (also called auto drafts) and from which bank if you have several accounts. Do you have a 401K, retirement, social security information, health accounts. Safety Deposit Box and key location and information. Utilities & credit card information also needs to be written down.
Maybe have one page for each item. By not informing your mate or one person whom you trust, this will cause undo pressure on them. Sit down with them and walk them through some procedures.
* Health Records – Also list doctors, medications
* Funeral Plans – burial or cremation, is this also known to someone.
* Auto Information – Vehicle paid off? Where is the title kept and records of maintenance
* Insurance – Life and Health – Whatever information you have, write it down.
This does take time! Just start with one page, write things down, tell someone!
As a ministry, we run into situations where the person has left nothing written, now undue stress is placed upon the survivor….be kind and do it!
IF YOU CHANGE ANYTHING, change it in your book or app.