Wills Are Vital, But Other Documents Are Important, As Well

When it comes to estate planning, the will is far and away the most important document, but it’s not the only one individuals should have ready.

A recent Forbes.com article points out that the prudent planner will also prepare such documents as beneficiary forms, financial and health care powers of attorney, a living will, an inventory of assets, a list of contacts, funeral arrangements and trusts.
And, of increasing importance but something that many might overlook, the Forbes article also advises people to prepare a list of their digital assets.
“Write down your passwords for everything from your credit card accounts to your email accounts,” the story states “Consider using an online password storage service like my-iWallet or KeePass. Then you only have one password to remember. Give your executor and agent, under your power of attorney, instructions on how to find your password cheat sheet.”