A personal finance blog dedicated discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance.


Tuesday, May 31, 2005

Home Financial Files - Organizing Your Finances - Part III

This is a continuation of a series I started a couple of weeks ago. Here are links to the other two posts in the series:

Part I

Part II


Use this checklist to gather infromation. Give a copy of the list and the relevant documents to whoever will be handling your affairs.

  • Conformed copy of will. Original is held by:________________

  • Copy of any other testamentary document (such as letter of instruction)

  • Signed copy of power of attorney/durable power of attorney

  • Signed copy of medical durable power of attorney/helath care proxy

  • Signed ocpy of living will

Instructions in the event of death
  • Funeral instrustions. Do you with cremation, memorial service, and/or funural with open or closed casket?

  • Special information in death notice in newspaper. Papers to contact.

  • Instructions regarding memorial gifts:

    • Cemetery name:

    • Address:

    • Plot number:

    • Location of deed to plot:

  • People/institutions to contact:

    • Employer:

    • Lawyer

    • Insurance agent:

    • Mortgage holder:

    • Social Security office:

Important notes: There should be only one signed copy of a will. If you change law firms, have the original attorney send the will to his or her successor. But your health care agent should have a signed copy of the health care proxy and living will.

A safe deposit box is sealed when the bank learns of the owner's death, so the will - and any other papers that may be needed immediately after death - should be left elsewhere. Spouses with separate boxes should not keep each other's wills in them in the event of death in a common accident.

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