Over the last couple of weeks, we’ve talked about why having documents isn’t the same as having a plan your family can actually use, and why so many families struggle after a loss, even when the legal paperwork was done right.
So let’s get practical. If you’re not sure where to start, here are the five documents that matter most, and what your family needs to know about each one.
1. Your Will
Your will spells out how you want your assets distributed and who you want to handle that process. The document itself matters, but so does making sure your family knows:
- Where the original, signed copy is kept
- Whether there are any prior drafts that should be thrown away to avoid confusion
- Who your named executor is, and that they know they’ve been named
2. Your Power of Attorney (POA)
A POA gives someone you trust the legal authority to act on your behalf – for finances, healthcare, or both – if you’re unable to. This one is time-sensitive by nature, so your family needs to know:
- Where to find it quickly
- Whether it’s a “springing” POA (only active under certain conditions) or effective immediately
- Who is named, and that person’s contact information
3. Your Healthcare Directive
Sometimes called a living will, this document communicates your wishes about medical care if you can’t speak for yourself. It only helps in the moment if:
- Your family knows it exists
- Your named healthcare representative has a copy or knows where to find one
- It’s accessible quickly – not buried in a file cabinet across town
4. Insurance Policies
Life insurance, health insurance, home, auto – families often don’t realize how many policies exist until they’re searching for them during an already stressful time. Consider keeping a simple list of:
- Each policy type and provider
- Policy numbers
- Contact information for each insurer or agent
5. A List of Financial Accounts
This is the one people forget most often. Bank accounts, retirement accounts, investment accounts – even accounts your family didn’t know you had. A simple written list (kept securely) of where you bank and invest can save your family weeks of guesswork.
The Common Thread
Notice that none of these require a lawyer to organize. What they require is a system – one place where this information lives, and at least one trusted person who knows it’s there.
That’s really the heart of what we’ve been talking about all month: it’s not about creating more paperwork. It’s about making sure the paperwork you already have (or are about to create) can actually do its job when your family needs it.
If you haven’t gathered these five yet, this weekend is a good time to start. Even a simple folder – physical or digital – with these five items is a meaningful step forward. Having said that, I highly recommend a digital copy in addition to keeping the physical originals in a secure location – paper doesn’t withstand fire or water well.
Several years ago we created a Legacy Vault and it gives me a lot of peace of mind knowing that a digital copy of all of our important documents are securely housed and accessible for our children when the time comes. I’d love to share this with you as I truly believe it is so valuable.
If you’d like to learn more, reach out any time via email/ phone/text or you can request a quick demo on my booking calendar.
This blog post is for general informational purposes only and does not constitute legal advice. For questions about your specific estate planning needs, please consult a licensed attorney.
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