Inheritance planning is really a comprehensive endeavor and it entails more than simply directing the transfer of assets via the execution of documents. There are numerous practical considerations that require communication with family and loved ones. Some feel as though they will always have time to communicate their wishes at some point in the future when they have more time. For many the topic of death is s difficult topic to discuss. Though these concerns are certainly understandable, procrastination can leave your loved ones in a difficult situation. You never know what lies ahead and this is what intelligent and comprehensive advance planning is all about.
It is a good idea to ask yourself what your family members would be faced with if you were to pass away on a purely practical level. Are there keys to vehicles and perhaps real property that they should have or be able to obtain? Do you have a safe deposit box? If so, who has access to it? Documents are another matter to consider. Do your your family members know where to find documents that would be relevant to them if you were to pass away? Who has passwords to accounts and other information on your computer files?
Since we live in the digital age a lot of people have important passwords and usernames that their loved ones would need if they were charged with the responsibility of handling the final affairs of the deceased. This can include social network identities as well as business relationships.
These are just a few specific things to keep in mind. Take time to compile a list of items that you should communicate to your loved ones so they will be prepared to handle the practical matters that they will face when the inevitable ultimately takes place.
With a law degree and a Master of Health Administration from the top health law program in the nation Mr. Rader began his career in public service with the Nevada State Board of Medical Examiners. While with the Board he dealt with many complex health care issues confronting the state and assisted in redrawing state health law. Mr. Rader next worked for the Governor’s Office, Consumer Health Assistance. As Deputy Chief Ombudsman he represented the interests of many citizens before health care providers, state legislators and other state agencies.
Latest posts by Bryce L. Rader, Estate Planning Attorney (see all)
- When and Where You Die Matters - May 21, 2019
- Protecting Trust Beneficiaries by Leaving Assets in a Trust Share for each Beneficiary - November 16, 2018
- What Is A Gun TrustAnd Why Do I Need One - August 12, 2016