Advice on Compiling Your “Death Dossier”

2:53 pm Uncategorized

files 150x150 Advice on Compiling Your “Death Dossier”The California Department of Insurance announced in May that it was examining 10 of the top life insurers doing business in the state for failure to pay life insurance policy benefits to named beneficiaries or the State.  This is just one more reason for the necessity to not only prepare all your important paperwork but to also make your heirs aware of the documentation and where to find it.

A Wall Street Journal article last weekend provided a comprehensive list of the 25 documents you need before you die:

  1. Will
  2. Letter of Instruction
  3. Trust documents
  4. Life insurance policies
  5. IRAs
  6. 401(k)s
  7. Pension documents
  8. Annuity contracts
  9. List of bank accounts
  10. List of all user names and passwords
  11. Life of safe-deposit boxes
  12. Marriage license
  13. Divorce papers
  14. Personal and family medical history
  15. Durable health care power of attorney
  16. HIPAA authorization
  17. Living will
  18. Do-not-resuscitate order (DNR)
  19. Housing, land and cemetery deeds
  20. Escrow mortgage accounts
  21. Proof of loans made and debts owed
  22. Vehicle titles
  23. Stock certificates, savings bonds and brokerage accounts
  24. Partnership and corporate operating agreements
  25. Tax returns

By securing all your important documents and advising your family about where they are stored, you will be able to avoid any confusion for your heirs about what they are inheriting.  After all, the insurance companies say they are not required to advise beneficiaries of a claim; they say they are only responsible for paying a claim once beneficiaries come forward.   State treasuries are full of funds from unclaimed bank accounts and other assets – don’t let those assets be yours!

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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