The Elements Of A Good Estate Plan (Part 4)

Estate Planning

Proper estate planning should, at a minimum include: a Will, a Power of Attorney for Property, and a Power of Attorney for Personal Care. But good estate planning doesn’t end there. Preparing your affairs for the inevitable now will help make your Executor or Estate Trustee’s difficult job an easier one.

Organize Your Relevant Documents

Recently, the Wall Street Journal published an article on this very topic: “The 25 Documents You Need Before You Die”. The article springs from the fact that many insurers do not pay insurance if it is not claimed and that billions of dollars in bank accounts remain unclaimed. The reason for this: the Estate Trustee cannot make claims against things he doesn’t know exist.

The solution: organize your relevant documents and make sure your heirs and/or Estate Trustee are aware of where all your documents can be found.

The Relevant Documents

Here is a list of the kinds of documents:

Will
Powers of Attorney
Proofs of ownership of real property, cemetery plot, vehicles;
Stock certificates, savings bonds and brokerage accounts;
Proof of loans made or debts owed;
Tax returns
Divorce documents
Death Certificates
List of bank accounts, user names, passwords;
List of safety deposit boxes
Life insurance policies
Details of RRSPs
Pension documents
Annuity contracts

Need Help with your Estate Planning?

If you need help with your estate planning contact myself or any Wills and Estates Lawyer. My goal is to deliver personalized high quality Wills and Estate Planning services in a direct, approachable and cost effective way. I implement the efficient use of technology to reduce or eliminate bottom line costs to my clients.

For more information visit my website at www.hunt-law.ca