A Short List Of Important Documents That Should Be Included In Your Estate Plan
What you accumulate in life is the physical evidence of your existence, so when you pass away, you don't want this evidence to just fall apart or fall into the hands of someone you don't trust or who does not deserve or appreciate your belongings. This is why estate planning is such an important thing for any responsible adult to do.
An estate plan is a legally binding plan of action that covers what happens to your tangible property, what your final wishes are, and how your accounts and affairs should be handled. All of this boils down to a lot of paperwork that estate planning services will help you create and gather. Here is a look at a short list of documents that should be included in your estate plan.
Include a list of digital accounts.
Digital accounts have become just as much a part of everyday life as accounts that you create in the real world. For example, you may have online digital accounts with the following:
These online accounts can be almost as valuable as other accounts in real life because they contain either digital currency or owned digital media that you've bought and acquired. When you are creating an estate plan, it is important to include a listing of these digital accounts that have some kind of value.
Include property deeds.
Whatever properties you own will definitely be part of the estate, and you do not want your power of attorney or your heirs having to dig around to find important documents to prove your ownership or the specifics of your ownership. Therefore, any owned properties you have should have documented proof included in the estate plan in the form of deeds. Likewise, if properties you own have been recently surveyed, the surveying analysis should be included.
Include personal documents.
Even the personal documents you have are important components of the estate. Your birth certificate, certificate of marriage, divorce decree, Social Security information, and even copies of your current driver's license are examples of personal documents that should be included in the estate plan. These documents can serve different purposes for the person who oversees your estate once you're gone. For example, a divorce decree may be needed if an ex-spouse claims to have some rights to some of the property you have left behind, or your driver's license number may be necessary when working with certain debtors.