I’ve posted a few times about having family conversations. These conversations allow you to discuss your estate and legacy plans. While these conversations can feel awkward or even unnecessary (yet), they are still important to have now.
Today, I want to share a list of other items to share with your family, and these things can’t wait.
Property and Asset Documentation
Where will your family find your most important documents? Similarly, where is the contact information for the professionals helping you keep all this organized? Provide information about your real estate, vehicles, and other significant assets. Include deeds, titles, and any relevant contracts or agreements.
Subscriptions & Memberships
What subscriptions, memberships, and clubs do you belong to, and how would your family cancel them in your absence?
Insurance Policies
Ensure your family knows about your life insurance, health insurance, long-term care insurance, and any other relevant policies. Share policy numbers and contact information for the insurance companies.
Financial Information
Provide details about your financial accounts, including bank accounts, investments, retirement accounts, and debts. Share account numbers, contact information for financial advisors, and instructions on managing these assets.
Healthcare Directives
Discuss your healthcare wishes, including any living wills, healthcare proxies, and advance directives. Make sure your family understands your preferences for medical treatment and end-of-life care.
Passwords and Digital Accounts
Similar to the two above, where can your family find your passwords? Compile a list of passwords and login information for your digital accounts, including email, social media, and online banking. Consider using a secure password manager to store and share this information. If you have a password manager, can you place the login information in a secure location for your family to retrieve?
Your Responsibilities & Obligations
What responsibilities do you have that someone will need to take over in your absence? Do you have loved ones you are caring for? Do you have written instructions for what needs to be done for that? Is the local food pantry expecting you, as they always do, every Tuesday morning, for example?
Ultimately, we all want our loved ones and what we care about to be cared for in our absence. None of us, however, knows when we will no longer be around. Answer these questions for your family as soon as you can. I often see this information given at a family meeting, but you don’t have to wait for that.
If you need help answering these questions or setting up your family meeting, I’d be happy to help.
