Let’s Talk About Your Life & Legacy Organizer
Talking about death is never easy. It’s a topic many of us avoid—but it’s an inevitable part of life. While we can’t control when it happens, we can take steps to ease the burden on the loved ones we leave behind.
What is the purpose of your Life and Legacy Organizer?
This thoughtfully prepared binder contains all the essential information your family would need in the event of a serious medical emergency or your passing. It’s often referred to as a “death binder,” but we prefer to think of it as a lasting gift of clarity, comfort, and preparedness.
What goes in my “Life and Legacy Organizer?”
There are many ways to approach this, but let me share how I have organized my affairs:
Section 1 – Estate Planning Documents – Include copies of your current Will, Trust documents, and your Medical and Financial Powers of Attorney.
Section 2 – Key Contacts – Include current contact information for your Estate Planning Attorney, Tax Accountant and Financial Advisor.
Section 3 – Retirement Accounts – Include a current statement for every IRA, Roth IRA, Rollover IRA or 401k/403b account.
Section 4 – Taxable Accounts – Include a current statement for every Individual, Transfer on Death (TOD), Joint or Trust account.
Section 5 – Education Accounts – If applicable, include a current statement for every 529 Plan, Coverdell Education Savings Account (ESA), Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA) account.
Section 6 – Bank Accounts – Include a current statement for every bank account you own. Be sure to remember all banks where you might have assets! Don’t forget to include Health Savings Accounts (HSAs) in this section.
Section 7 – Beneficiary Designation Forms – Include a copy of your signed Beneficiary Designation Form that is on file with your custodian for every account where a beneficiary is named. If you don’t have a copy of your current designations, ask your financial advisor or custodian for assistance. Remember to update this section as you make estate planning changes!
Section 8 – Life Insurance – Include a copy of all your in-force (paid and current) Life Insurance policies and the named beneficiaries. Don’t forget to include any policies you may have been offered through your employer.
Section 9 – Other Insurance – Include a copy of all your in-force (paid and current) policies of the following categories of insurance:
- Disability Insurance
- Homeowner’s Insurance
- Auto Insurance
- Personal Articles Insurance
- Umbrella Policy Insurance
- Travel Insurance
- Other categories
Section 10 – Titles – Include a copy of your Deed of Reconveyance proving your mortgage has been paid off (if applicable) and copies of all Car/Boat/RV Titles.
Be sure to review all 10 sections annually to ensure the information is current and still applies.
By preparing this ahead of time, you’re helping to reduce confusion, stress, and guesswork for your loved ones during an already difficult time.
Investment Advisory Services offered through Expressive Wealth, LLC. All investing involves risk, including the potential loss of principal. Market volatility may significantly impact the value of your investments. This communication is provided for informational purposes only and should not be construed as personalized investment advice or a recommendation of any particular security, strategy, or investment product. Information has been obtained from sources believed to be reliable, though not independently verified. This report does not represent a specific investment recommendation. The opinions and analysis expressed herein are based on Expressive Wealth research and professional experience and are expressed as of the date of this report. We recommend consulting with a qualified financial adviser to develop a strategy that aligns with your financial goals and risk tolerance.