Organize Estate Documents

Taking the time to prepare and organize estate documents is not necessarily something that you want to think about, but it is a very smart thing for you to think about.

When you lose a loved one it is hard enough to deal with the pain of your loss. When you add in the stress of having to sort through their estate and make difficult decisions in the midst of your grief, it can be too much for many people to handle.

Don't put your loved ones in this position.

Difficult as it may be, creating an estate plan is one of the most generous and loving things you can do for your family.

Creating an estate plan is a very personal decision and you should educate yourself about the various options available to you. Determine what is best for you and then prepare the appropriate documents.

There are a few documents which are common to most estate plans, they include:

Last Will and Testament

Your Last Will and Testament is the document where you will indicate how you would like your estate to be distributed. This is also the document where you will establish guardianship for your minor children.

Durable Power of Attorney

A Durable Power of Attorney is a document that gives you the opportunity to designate a person of your choice to handle your affairs should you become incapacitated.

Health Care Proxy

A Health Care Proxy gives you the opportunity to designate a person of your choice to make any health care decisions for you should you become unable to make those decisions for yourself. This is also where you would set forth your specific wishes as to what kinds of life-saving measures you would prefer and/or not prefer.

Living Trust

You can also establish a Living Trust which is a little more complicated and varies depending upon the assets you own and how you want them distributed.

Most estate planning professionals will tell you that a Trust is the safest way to ensure that your assets get disbursed according to your specific instructions, with the least amount of complication for your surviving family members.

You should always consult with a local attorney who can assist you in tailoring an estate plan to your specific needs and which meets all necessary legal requirements.

Click here for a link to a lawyer locator to find an attorney near you.

How to Organize Estate Documents

Once you have the necessary estate plan documents finalized, you will want to keep them stored with the rest of your vital records. This will ensure that all of your most important documents are together and easy to find.

If you have consulted with an attorney to prepare your estate plan, your attorney should also keep a copy of all of your documents.

It is a very good idea to also give a copy of all of your estate documents, as well as the contact information for your attorney to the person you have named as the executor of your estate.

If you ever update your estate documents, be sure that everyone you have given an initial copy to get an update version.

Now that you have taken the time to organize estate documents, you might also want to think about preparing a funeral plan.