To die or not To die. That is the question. With apologies to William Shakespeare, this edition’s topic is all about death.
I have been the executor of a number of estates and have found that many of my clients need a memory refresh about dying. I would like to share with you some key questions and points that should become part of your check list when preparing for that final journey.
First, we should have a current will. But most importantly, Where is the Will kept?
My sister-in law passed three years ago; her husband followed later that year. The Will is in a safety deposit box, prepaid for 10 years ! The key cannot be found, the Executor is unknown and the bank will not drill the box open until the 10th year. Furthermore, we cannot locate their lawyer, since they moved so often and records were lost!
I have a list of 20 organizations that may require a death certificate as proof of death, before they will act upon the direction of the Executor.
One good suggestion is to take an afternoon and visit a funeral director and plan your funeral. You will save your estate significant costs, and will help alleviate psychological and financial stress on your family, since arrangements have been already made.
Make sure your executor has authority after your demise to deal with utilities and service providers such as TV cable or satellite, telephone and cellular phone providers
Does your executor know where you do all your banking ?
I have encouraged my clients to write their own obituaries, with or without a picture? Which newspapers? How about a sentence or two, a message to be read at your funeral or wake
Write a short story about your roots. Who were your parents? Your grandparents ?
How would you like to be remembered? Will the stories be accurate?
Social Media is a great tool to stop unnecessary mail or correspondence. There is no faster way to send out news than with the Deceased Social Media Contact List.
If you want a copy of the inexinsight package, which covers these issues and more, email me at email@example.com or call me at 519.942.2880 to pick one up at the Orangeville office. Neil Mathieson