Every month I send an E-Newsletter that has articles on estate planning and elder law topics. If you would like to subscribe to this E-Newsletter please feel free to sign up.
This months topic is Estate Administration. When someone passes away, the executor or successor trustee responsibilities start. Their primary job is to protect and manage the assets in the estate, and to then distribute according to the written instructions you have left in either your Will or Trust.
To accomplish this, it is extremely helpful if the executor or trustee is able to quickly locate the estate assets. A list of current bank accounts, brokerage accounts, retirement fund information, life insurance policies, and a list of advisors will help the fiduciary get started. No values need to be listed, since that can fluctuate. A simple list of assets and the institution where they are located will be enough to put them on the right road.
For my personal clients, I provide an Organizer for their Estate Binder that they can complete and update as their holdings change. If you would like a copy of this Organizer, please email me and I will be happy to send one to you.[email protected]