February 2020

I had time on my hands from the middle of December to the middle of January, and I managed to complete a task I’ve been avoiding! A few years ago, I created a document that provided a road map for my executors after my demise! I knew it was out of date and had been avoiding dealing with it. Updating the document seemed like such a thankless job!

I was shocked at how many changes had occurred over a few years. I feel like a huge weight has been lifted off my shoulders. I’m determined to update the list on an annual basis now. It won’t take more than an hour, if I do this. Here’s what I’ve listed:

  1. Details of investments, showing whether they’re income bearing, what the tax treatment is, how long the investment should be held for, who the contacts are and others who own the same investments.
  2. All our bank accounts and the names of contacts.
  3. All our insurance policies and the names of contacts.
  4. The location of the ownership documents of our real estate holdings.
  5. The location of our wills and POA’s.
  6. Codes to get into investment, bank and other accounts.
  7. The location of legal documents
  8. The names of professionals to contact.

I put all the info on a USB key and told my family where it’s located. Job done!! Having drafted this document, I’m going to play a round of golf! If you haven’t prepared a similar list, I strongly encourage you to get started and to update it annually.

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