Estate Planning: What Your Family Should Know

Some people are secretive about their personal and business dealings, and upon their death, their families, unaware of such dealings, are cheated out of assets for which they could claim ownership. Whether or not you choose to write a will, here are a few things that at least your next of kin should be aware of.

1. The account number and branch location of all bank accounts and credit card accounts; the location, contact details and account details for any investment holdings (stocks, bonds, mutual fund accounts, etc); and the name and number of any insurance policies you hold.
2. The name and contact details of your lawyer, accountant, stock broker, insurance agent, branch manager, and bank account officer.
3. The location of your valuables including jewellery; real property such as land, houses, boats, etc.; and intangible property such as rights to intellectual property.
4. The location of your will and other estate planning documents as well as important documents such as your birth certificate (if you have one), your international passport, etc.
5. Details of any outstanding debts that you owe or that are owed to you.
6. Details of any outstanding legal matters.

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