Having a proper estate plan is the first step to making life easier on your family when you pass away or become incapacitated. If we consider the estate plan documents your “treasure” then a completed “Asset Inventory” is the map to the treasure…click here: Asset Inventory
After my clients have executed the tailored estate plan I have created for them, I always advise them to complete the Asset Inventory, and update it often, so that when they do pass away or become incapacitated, their fiduciaries (executors, trustees, powers of attorney, healthcare agents) know where the assets are because all of the answers are there. Where do you bank? What are the account numbers? What kind of vehicles do you own? Where are your investment accounts? Do you have life insurance?
If your fiduciaries are in control of your assets, they have to know what assets you have. Complete the Asset Inventory and keep it with your original estate planning documents. It will save a lot of time, money and effort down the road.
