Start the Process

You should start the process as soon as you think of it

If you have already started, determine what remaining tasks you need to finish, including a will or trust, power of attorney, healthcare proxy, and/or advanced directives.

If you haven’t started, get an estimate of the timeline with your healthcare providers to help determine what and how urgent these planning measures should be and consider seeking an estate planner as soon as possible to complete the process before your death.

Make a List of and Organize All of These

Assets

Real estate and personal property
Bank and money market accounts
Digital property
Safe deposit boxes and keys
Investments
Stocks and bonds
Real estate
Retirement accounts and annuities
Profit-sharing plans
Loans to family members
Life, car, home, and other insurance

Liabilities

Loans
Credit card debt and information
Leases and mortgages, along with documents
Current monthly bills
Estimated tax payments due

Important documents

Proof of identity and relationships
Your will and/or trusts
Legal power of attorney
Advance Directive
Titles/deeds to real estate and personal property
Life insurance plans
Income tax returns for the last two years
Latest bank and investment account statements
Payment books

Store all financial information and documents in a safe place, which could include a password-protected file, and make sure your heirs know how to access them. There may be software alternatives.

It is also important to provide passwords and usernames for all your active websites, so that:

Any person with Power of Attorney can access and manage these sites;
An heir can access them after your death without losing valuable data, such as important documents and pictures; and
Email, online shopping, multimedia, and subscriptions can be easily canceled before they can be used for identity theft.

Consider using a third-party password manager like LastPass, KeePass, and DashLane.

It may also be more efficient if you include your partner or children as joint owner on any account that regularly bills for services, such as your cable, internet, cell phone, club memberships, and utilities.