03/07/2024
Important Information About Getting Your Affairs In Order:
💰Make sure all bank accounts have direct beneficiaries named. The beneficiary need only go to the bank with your death certificate and an ID of their own.
🏡 Complete a TOD (Transfer On Death) for your house deed if you own a home. Completing this document and filing it with your county saves your heirs THOUSANDS of dollars. This document allows you to transfer ownership of your home to your designee; all they’ll need to do is take their ID and your death certificate to the county building and the deed is signed over, avoiding having the home have to go through probate.
🚗 Complete a TOD = (Transfer on Death) of your auto title(s) too. All these things will help your heirs avoid the probate process.
👨👩👧👦 Living Will: Allows one to put in writing EXACTLY what you want done in the event you cannot speak for yourself when it comes to healthcare decisions as well as other final decisions.
👩🏽⚖️ Durable Power of Attorney: Allows one to designate a person to make legal decisions if one is no longer competent to do so.
🏥 Power of Attorney for Healthcare: This document allows one to designate someone to make healthcare decisions for their person.
🛍 Last Will and Testament: Designates to whom personal belongings will go.
🪦 Funeral Planning Declaration: allows one to say exactly one’s wishes as far as disposition of the body and the services.
If the above documents are done, you can AVOID probate. When all the above is not done, your family members must hire a lawyer to open an estate account at the bank, and all moneys without direct beneficiaries named goes into this account. The lawyer will also have to publicize your passing in the newspaper or post publication at the county courthouse, to allow anyone time to make a claim on your property. - it’s a complete PAIN.
📚 💳 Make a list of all banks and account numbers, all investment institutions with account numbers, lists of credit cards, utility accounts, etc. Leave clear instructions as to how and when these things are paid.
📂 Make sure your heirs know where your life insurance policies are located.
📝 Make 100% sure SOMEONE knows your Apple ID, bank ID account logins and all passwords. A password keeper will streamline that - only one password needed to access all accounts.
🚗 Make sure you have titles for all vehicles, campers, etc in the SAME PLACE.
Set up a trust for intended beneficiaries that are too young, and appoint a trustee of said trust.
MOST IMPORTANT, talk with those closest to you and make certain your wishes are known; talk to those you’ve designated, as well as those you did not, to explain why decisions were made and to avoid any lingering questions or hurt feelings.
Hope this lights a ⚡️spark⚡️and encourages everyone to take care of these things to make it easier for those we love.
Finally, while this process sounds daunting and expensive, it doesn’t have to be! As a member of LegalShield you can have all these documents prepared at no cost and have unlimited access to lawyers in all areas of law for consultations to make sure all details are completed.
Learn more: leighanngilmore.com
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