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Your pre-death to-do list

Death is a fact of life. So why do so few of us plan for it? Nearly two-thirds of UK citizens haven’t done even basic estate planning, according to a recent Forbes article. Hopefully you’re not among them…

There’s a mountain of legal, financial, and accounting work after a death that nobody tells you about. Did you know that you may have to file taxes for someone after they die? Or pay their bills on time to avoid penalties?

Do your family a huge favor and look death in the eye long enough to do these five things:

  • Update the contact and beneficiary information in all of your important accounts (retirement, investment, insurances), then set a calendar reminder to check it yearly.
  • Take inventory of all your assets and expenses.
  • Complete a healthcare proxy with your desired medical/end-of-life instructions.
  • Select someone to serve as executor or trustee to oversee your estate.
  • Review your assets and medical wishes with your executor or trustee, then store the information somewhere secure.

Let us know about your last wishes and other issues in the comments below…

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