Happy Wednesday!!! I hope you all had a lovely Fourth of July. We took some down time at FLP this week to enjoy the holiday and rejuvenate. With only so many days of summer, it was nice to spend time with family and friends on our independence day.
This week, we are talking about necessary documents to locate after somebody passes. After a death, it’s important to locate necessary paperwork prior to attempting estate administration. Before you consult with an estate planning attorney, here is a list of items that we suggest you locate in order to make the process less burdensome:
Copies of account statements: bank, retirement, and brokerage accounts
Life insurance policies
Deeds on all properties
Sometimes it’s difficult to find this information. However, it is necessary to estimate the value of one’s estate prior to opening probate or administering a trust.
Bills: credit cards, utilities, mortgage, taxes, medical, anything outstanding
Debts need to be assessed, paid off, and/or settled.
Corporation, LLC, or partnership agreements
Business banking statements
All Estate planning documents: Last Will and Testament and any codicils, any Trusts and any amendments
A copy of the death certificate – we recommend ordering between 8-10 copies
Having as much of this information prior to an initial consultation will streamline any administration process and will result in quicker administration. We work diligently with all of our clients to ensure that all of their information is in one place. Emphasis on organization is key. However, we understand that people may not always be the most organized and that life happens.
If you know that it is going to be you in charge of an estate administration please try to gather as much information from that person while they are still here and are competent. A little due diligence and organization now can save you hours of time in the future.
If you’re interested in learning more about our organization process, or if you know of any trusted friends or colleagues who are attempting to administer an estate, please have them contact us and we’d be happy to assist them.
Until next time, Amy