Details for FAMILY FOCUS COVER 4

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Organize Your Finances

our debts don’t disappear at
the time of death. In many
cases, your family may be held
responsible for any outstanding
obligations. When planning your
estate, spend time organizing your
finances to ensure an executor
knows what you owe and how to
make the payments.

Your debts don’t disappear at the time of
death. In many cases, your family may be held
responsible for any outstanding obligations.
When planning your estate, spend time organizing your finances to ensure an executor
knows what you owe and how to make the
payments.
A life insurance policy means more than
leaving something behind for your loved ones,
it should also cover funeral expenses and fund
your financial responsibilities. Determine the
amount you owe and adjust your plan with an
insurance agent.
Your family members will be dealing with
grief at the time of your death, what you do to
ease the stress before the fact, can make it
easier for them to adjust.

including pensions and annuities. Keep them
in a safe place and disclose the location with
loved ones. At the time of death, they will
require these forms to ensure your contribution is dispersed to the right person, rather
than going unclaimed and ending up with the
state.
Important Documents
It’s a good idea to gives copies to your
You should print out clear documentation
estate
planner, attorney or even in a safeof life insurance policies and retirement plans,
deposit box. These documents should be easily accessible when
they are needed.

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Gathering Debts
Another set of documents you will need to
disclose with your
estate executor is a list
of your financial
responsibilities. These
include mortgages,
vehicle commitments

and credit card debts. Keep your account
information in a secure and organized portfolio to make payments easier.
Don’t forget to update balances regularly to
keep numbers accurate.
A great expert to have when gathering your
debts is a financial advisor. Together, you can
set up beneficiaries for retirement plans, allow
family to access accounts and even create savings strategies for your surviving family and
finances.
Leave Clear Instructions
Modern technology makes bill paying easy
with services like autopay. Make sure your
loved ones know how and what comes out of
your bank account.
It’s easy to forget small charges like subscriptions and utilities.
They should know how to opt out of these
fees as every dollar can be crucial when meeting final financial obligations.

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