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Top 10 Ways to Protect Your Loved Ones in Estate Planning

Posted on April 23rd, 2020

Top 10 Ways to Protect Your Loved Ones in Your Estate Planning:


  1. Create a Binder: Put your deeds, copy of your passport, insurance policies, estate documents, latest statements from financial institutions, utility providers and any other monthly bills that you receive, and store this is a fireproof box, where your survivors can find.
  2. “Must Call List”: Include a sheet into your binder with your most vital contacts that your survivors must call. Your CPA, Financial Adviser, Attorney, Insurance Agent, Pastor and anyone else that you feel is important.
  3. Password Master List: Put your passwords and your security questions on a sheet and put it in your binder.
  4. Beneficiary Designations: Please, make sure that your beneficiaries are updated for all of your financial accounts, life insurance, and possibly your real estate (depending on your state).
  5. Credit Card Accounts: Make sure that you and your spouse’s names are on the proper accounts. If your name isn’t on the account, then you are not responsible for it. If your name is not on your spouse’s credit card, then you can’t access the account, after they pass away, either.
  6. Powers of Attorney: You will need a Health Care Power of Attorney and a Financial Power of Attorney, or sometimes called an Advanced Directive. There may come a time in life where we need someone to make financial or health care decisions for us.
  7. Living Will: We all need to make the decision what we want done with us if we have no hope of recovery and life-support machines are the only way to keep us alive. Without a Living Will, the government will make the decision for you.
  8. Review the Documents: We all need to review our Wills, Advanced Directives and financial accounts, every couple of years, to make sure that they still meet our desired outcomes. If something does not meet your desired outcome, then go change it.
  9. Prepaid Funeral Plan: Want to potentially saved thousands and relieve a major headache for your survivors? Get a prepaid funeral plan. This will save you and your loved ones in more ways than one.
  10. Be Open and Honest: Talk with your loved one and children about your plans. Let them know where you binder is and what is in the binder. This will bring a piece of mind to your family and get rid of that nagging feeling that you still need to get this accomplished.


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