• Home
  • Estate Planning
    • Who Needs an Estate Plan?
    • What Happens if You Don't Have an Estate Plan?
    • What is a Comprehensive Estate Plan?
    • Is Probate right for you?
  • SERVICES
    • What to Expect
    • Initial Consultation
    • Additional Services
    • Flat Fee Estate Plans
  • About
  • Blog
  • Contact
    • Directions
  • Schedule
SHAILA BUCKLEY LAW
  • Home
  • Estate Planning
    • Who Needs an Estate Plan?
    • What Happens if You Don't Have an Estate Plan?
    • What is a Comprehensive Estate Plan?
    • Is Probate right for you?
  • SERVICES
    • What to Expect
    • Initial Consultation
    • Additional Services
    • Flat Fee Estate Plans
  • About
  • Blog
  • Contact
    • Directions
  • Schedule

BLOG

Our blog provides education and information on estate planning issues to help you keep you informed on new developments in this area of law.  Please note that information in this blog and website is informational only and is not legal advice. 
​
If you have ideas for blog posts, feedback on current posts, or would like to reproduce and attribute any of these blog posts, I'd love to hear from you. 
Sign up for our Blog

Making Sure Your Heirs Can Located Your Assets

7/24/2020

 
Picture
We work hard to build up the assets that compromise our estate and the last thing we want to happen is for one of these assets to be missed by our loved ones. 

Years ago, when someone passed away, the executor of their estate would spend several days at the decedent’s home carefully reviewing every document they could find – bank statements, credit card statements, files, paperwork, bills, etc.  It was a labor-intensive process, but by the end, the executor could feel reasonably confident they had located all the assets.

These days, however, things aren't as simple.  Take a minute to think about how many of your financial statements have gone paperless.  If you’re like me, it’s the majority of your accounts.  Indeed, as more of our financial statements and communications move online – each with its own separate user name and password – the harder your executor’s job becomes and the more likely an account gets missed. 

The solution is to leave a detailed list of your financial accounts, including financial institution, account numbers (the last four digits of the account number are enough), and approximate values, so your executor knows how much you have and where to find it.  It's also helpful to include the contact information of your accountant, financial advisor, life insurance agent, and estate planning attorney. 

Obviously, it goes without saying that this document should be kept somewhere secure, like a locked fire proof box.  And although you’ll have to update it from time to time, once you invest the time to make your initial inventory, it’s fairly easy to keep up to date.

Given the importance of this issue, I provide my clients with an Asset Inventory to fill out and record this critical information, and include this document as part of the Estate Plan Portfolio they receive from my office.  ​

Comments are closed.

    Author

    Shaila Buckley

    Archives

    March 2023
    September 2022
    August 2022
    April 2022
    January 2022
    November 2021
    September 2021
    July 2021
    June 2021
    April 2021
    March 2021
    January 2021
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    February 2020
    January 2020
    November 2019
    October 2019
    September 2019
    July 2019

    Categories

    All

    RSS Feed

Estate Planning

  • Who Needs an Estate Plan?
  • What Happens if You Don't have an Estate Plan?
  • Estate Planning for Parents
  • Estate Planning for Homeowners
  • Post Divorce Estate Planning
  • What is a Comprehensive Estate Plan?
  • Is Probate Right for You?

services

  • What to Expect
  • Initial Consultation
  • Flat Fee Estate Plans
  • Additional Services
  • Wills + Living Trusts
  • Power of Attorney  + Medical Directives
  • ​Probate

S|B Law

  • Home
  • About
  • Blog
  • Contact​
  • Privacy Policy
208.995.9224
Schedule an Appointment
© COPYRIGHT 2019. ALL RIGHTS RESERVED.
  • Home
  • Estate Planning
    • Who Needs an Estate Plan?
    • What Happens if You Don't Have an Estate Plan?
    • What is a Comprehensive Estate Plan?
    • Is Probate right for you?
  • SERVICES
    • What to Expect
    • Initial Consultation
    • Additional Services
    • Flat Fee Estate Plans
  • About
  • Blog
  • Contact
    • Directions
  • Schedule