After some significant events this past year, I realized that I have seriously neglected one of the most important responsibilities I have to my family – estate planning.
Over the years, I’ve created a rough draft of my will, gathered a few documents, and designated beneficiaries for accounts where required. However, there’s no comprehensive compilation that would truly assist my family in the event of my incapacity or death.
I know firsthand how painful and difficult it is to manage someone’s affairs while grieving their passing. I don’t want to put my family through that.
Now, after a not-so-subtle nudge from the universe, and in the hope of not needing it for a very long time, I’ve decided to finally bring all those bits and pieces together.
First Things First
I began with the most manageable and least emotional aspects of the process – household and financial information. I considered what details would be necessary if someone other than my family needed to handle these arrangements.
This approach not only kept it from feeling too personal but also helped me be more thorough in listing the details.
Using documents I already had for bank accounts, investments, property details, and more, I created a single spreadsheet to consolidate the information.
After several hours, I realized how crucial this document would be and how much time it was actually going to take.
At first, it was overwhelming, but it emphasized how critical it is for me to complete this task and keep it up to date. I thought, if it was this difficult for me to organize all this information when I know it, how much harder would it be for my family to sort it out after I’m gone?
Getting the Spreadsheet Ready
After two weeks, I finally have what I believe will be a workable document that my family can easily access to manage all the details they will need.
These are the five categories I felt were most relevant, although I keep thinking of additional details to include:
Identification: Name, DOB, Social Security, Passport, Next of Kin
Household: Property, Utilities, Mail/PO Box, Storage
Financial: Bank/Retirement/Credit Accounts, Tax Accountant
Medical: Doctors/Hospitals, Medication, Organ Donation
Personal: Social Media and Email Accounts
But That’s Not All
In addition to the spreadsheet, I have the following documents:
Will
Financial and Medical Power of Attorney
Living Will or Advance Directive
Letter of Intent and Last Wishes
I understand that laws in the U.S. vary by state, so I will have these documents reviewed by an estate attorney and discuss them with my family. It’s even more different in other countries.
It’s a Gift
While I won’t be here to comfort them in their grief, I want to relieve my family of the additional burden of sorting through the details of my life.
For me, preparing these documents is an act of love and responsibility.
By organizing everything now, I hope to make things a bit easier for my family during a difficult time, so they can focus on cherishing memories rather than dealing with the details.
It’s my way of helping them through a tough moment and ensuring my wishes are clear and manageable.
Let’s Have a Conversation:
Have you done your estate planning? What part of this experience is the most difficult? Share your thoughts and comments!