Make sure that the beneficiary designations of any life insurance and annuity policies, IRA accounts, and retirement plan accounts are consistent with your will. Have a living will and medical directive drafted to handle end of life medical issues Store these documents in a secure place in your home.
Do not store them in a safe deposit box. Alert your executor as to both the location of these documents and the name and contact information of the attorney who drafted the documents. Provide a copy of the documents to your financial advisor and the contact information for the drafting attorney.
Finally, celebrate. Tweet Share Share. Professional executors like solicitors or accountants will charge for their services.
Changes to wills have to be made carefully to make sure they are legally recognised. Read our guide on Changing your will. Did you find this guide helpful? Yes No. Care to share? Thank you for your feedback.
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Putting our affairs in order: lessons learned - Ottawa Regional Cancer Foundation
WhatsApp Logo WhatsApp Need help sorting out your debts, have credit questions or want pensions guidance? However, I found myself reluctant to fill in all my personal details as the website suggested. Lost or stolen information may allow for identity theft or financial theft. If the document becomes lost or stolen you must take immediate steps to protect yourself by advising relevant authorities including your bank, credit card company and insurer.
I could not think of a safe place to keep the completed document where it would be easily accessible by my son if he needed it. I visited a local locksmith to explore options for an in-home safe, but found the cost prohibitive.
Aging & Geriatrics
Then I consulted my local bank branch. I soon decided that it would be economical and practical to give my son formal access to my safe deposit box at the bank, and to keep a copy of my Virtual Shoebox there. With the security question resolved, I have now compiled my personal information using the Virtual Shoebox format and it is safely stowed at the bank.
I plan to update it from time to time. Our modern lives involve many account numbers and financial records. Compiling your personal information is a lot of work, even with the useful format provided in the Virtual Shoebox Guide. Be prepared to spend some time and effort gathering your important information and documents. Think of how helpful this information will be to your loved ones if stressful circumstances arise.