Attorney & Mediator
Attorney & Mediator

Leaving a Roadmap to Assets

You have a Will or a Trust.  You are finished with your estate planning, right?  Not quite.

You know what you own, but will your Personal Representative or Trustee?

Make a listing of your assets – better yet – make copies of documents and include these with your estate planning documents so that your Personal Representative or Trustee will have a clear outline of exactly what you own.

Real Estate: How many parcels and where are they located?  Make a copy of the deed(s) and a property tax statement for each.

IRA’s, 401 K’s, Annuities: Prepare a listing of all of your tax deferred assets together with the beneficiary for each.  Make a copy of your recent quarterly statement for each so that your Personal Representative or Trustee has the name of the financial institution and the account number.

Life Insurance: Get the policies together.  If you don’t know where they are, someone else won’t either.  List the policies with the name of the company, the value and the beneficiary.

Cash Assets: Make a listing of the accounts.  Make a copy of your recent quarterly statement for each account showing the name of the financial institution or bank and the approximate value.  If you have listed a beneficiary on the account or have a transfer on death (TOD) provision, note that as well.

Vehicles, Boats and Trailers: Make a listing of these items together with their identification numbers, physical location and value.  Make copies of the titles for each.

Valuable Personal Property: Precious metals (gold or silver bullion or coins), stamp collections, wine collections, artwork, antiques, should all be listed with identifying information, the physical location of the item and the approximate value.  Best is to take a photograph of each item and place the photographs with the listing.

This roadmap will be invaluable for your Personal Representative or Trustee.  The death of a loved one is a stressful time.  It will ease the burden if your estate is organized.