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Is your estate planning safely stored and accessible?

On Behalf of | Jun 2, 2016 | Estate Planning

Although thoughts of death are not something one wants to linger on, it is a reality. Ohio residents may recognize the importance of organizing important documents and storing them in a manner that will be readily accessible to surviving family members in the event of an unexpected death. There are multiple storage options for estate planning documents, including the traditional way of keeping them in a safe or the modern way of storing them in a cloud.

It can be called a financial emergency kit, and the contents should include estate documents that are made up of copies of wills of both spouses and advanced directives to indicate instructions for medical care and end-of-life arrangements. Powers of attorney can be included, both financial and medical, along with guidance about business operations and asset distribution. Insurance policies, tax materials and all documents related to savings, investments and retirement accounts should also be included.

All these documents and information may be of no use to loved ones if they do not know where they is stored. Clear instructions on how to access the information, including keys and passwords, must be kept in a place to which loved ones will have access. A carefully conceived storage plan for a financial emergency kit can save the surviving family members a lot of stress at a difficult time.

Knowing what to include in such a kit may not come easy, and the guidance of an experienced Ohio estate planning attorney may be helpful. A lawyer can provide valuable input during this process while also making sure that nothing is left unaddressed. The lawyer can assist in organizing the contents of the kit consistent with the preferences and habits of the client.

Source: The Huffington Post, “Building a Financial Emergency Kit for Your Family“, Nathaniel Sillin, June 1, 2016