If you are currently creating a will or a trust which will provide for your loved ones after your passing, there are some minute details that you won't want to forget. You will want to make sure that your executor has access to all of the things that you may have kept hidden behind locked doors or digital passwords.
You will want to carefully create an instruction sheet that details how to disable alarms, unfasten padlocks and get into digital accounts. Don't forget write down instructions regarding your vehicle and home alarm systems when you are giving orders to your executors.
You will also want to instruct executors as to how to open home safes, and give him or her the gate codes to any gates outside the house or the codes to any locked mailboxes, As well, you will want to make sure to provide and keys or codes to lock boxes, cabinets, or drawers that may contain valuables. Write down all of this information for your executor in order to avoid serious complications later on.
When it comes to safe deposit boxes, you will want to make certain that your executor is aware of where the box is and what is inside. Your executor may not be able to open the box immediately after your death, so you will not want to store prevalent information in a lock box. Instead, put documents that may be needed in the future, but not immediately upon your passing in the box.
For example, it is not wise to put a will in a lock box. If you have documents in a lock box, then write down the contact information for the bank or financial institution and a list of people who have access to the box. As well, write down the box number, a description of what is inside the box, and the location of the keys.
You may also have property that is hidden, and you will want to map out the location of your valuables for your executor. If you fail to notify your executor of the whereabouts of your fortune or the valuable items, they may stay hidden forever or fall into the wrong hands.
Instead, you should make a list of all financial assets that are not stored at the bank and any valuable items that you don't think your heirs could find without your directions. Also, any other information that is only known to you should be included in your instructions to your executor. Also provide a list of passwords and usernames for your executor in case he or she needs to access your online information at some point or another.
While you will want to make sure to provide your information to the right parties, you will also need to create a strategy which will keep your information safe from those who could abuse it. Tell your executor to guard all of your secrets from those who may abuse them. Also, as the property owner you have the right to terminate any sensitive information that you don't want anyone to know.
You can store information on a disc and delete all other documents that may provide sensitive information. With the help of the estate planning lawyer, you may be able to organize all of this information in an efficient way and keep your executor and heirs from being in the dark when you pass away. Discuss options with a probate or estate planning professional near you today. Having an expert on your side can prove to be invaluable in your case so get started today!