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Dutchess OfficeAvoid Keeping Your Estate Plan Hidden
Estate planning is about more than just drafting documents; there are practical issues involved, as well. If your affairs are disorganized, your executor may have to spend time and energy researching information that you could have easily provided. Some of these include:
• Who should be notified of your death?
• Did you prepare a Will? If so, where do you keep it?
• If you own a life insurance policy, pension, annuity, or retirement account, where are the applicable documents stored?
• Where are the records for your bank accounts, stocks, bonds, or safety deposit box(es)?
• If you own real estate, where are the deeds?
• If you own a business, where are your critical documents stored?
Failure to organize this information and leave accurate instructions about how to retrieve it can be costly. If you own assets such as stocks, bonds, real estate, insurance policies, and even bank accounts, these assets, if unknown to your family, may be turned over to the state government. This happens more than people may think, with millions of dollars going into state treasuries each year.
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10 Responses to “Avoid Keeping Your Estate Plan Hidden”You must be logged in to post a comment.
February 3rd, 2010 at 6:15 pm
Wow! I am so glad that I came to this web site. Great article. That is a Thank you for helping to bring awareness to this issue.
February 7th, 2010 at 6:59 pm
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February 12th, 2010 at 7:20 am
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February 13th, 2010 at 3:03 pm
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February 13th, 2010 at 10:34 pm
nice post to read..thanks for the information …..
January 17th, 2011 at 6:51 pm
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January 24th, 2011 at 8:34 pm
In my opinion it is a good point of view. Thank you.
January 26th, 2011 at 6:14 am
I admit, I have not been on this webpage in a long time… however it was another joy to see It is such an important topic and ignored by so many, even professionals. I thank you to help making people more aware of possible issues.Great stuff as usual.
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