We Create Peace

Do You Have a Drop Dead File?

There are two givens in life, death and taxes. Taxes have a due date. Death? You just don’t know. That is why preparation is key. You know your birthday.  You don’t know your death day. You can let others make decisions on your behalf, or you can instruct them to FOLLOW your decisions. You get to choose if you plan.  No plan, your loved ones are left to guess at many levels.

According to the American Bar Association, over 55% of Americans die intestate, or without a will. This same group of people rarely have the other important documents such as a Power of Attorney for financial and health purposes along with a health directive, HIPAA, POLST and the nomination of a guardian/conservator. These are the critical documents.  A trip to an attorney can cover all these documents for less than you think.

However, along with the above documents, your heirs will appreciate a file with EVERYTHING needed within it.  What are some of those things?

  • Passwords
  • Instructions about social media sites
  • Financial papers:
    • Mortgage
    • Credit Cards
    • Taxes
    • Any other loans or payments
    • Life Insurance policies (all of them!)
    • Safe Deposit Box
    • Banking
    • Investments (and list of beneficiaries)
    • Final Wishes (what to do with the body, services, etc.)
    • Final Words (letters or videos to family members)

I am convinced preparation for death is one of the most loving things you will do for your heirs at ANY age. If you are young and single, it seems there is no need for a drop dead file. Look at the obituaries.  Young people die. If you are a couple with children, a will is imperative to take care of your partner and most of all, your children. If you are nearing retirement and inching toward the inevitable death date, these documents are absolutely critical to consider peace of mind for loved ones. To this end, I will soon release a book with an accompanying service called the Decision Tree of Aging. Look for the book soon and the website plus services by the holidays.