Estate Planning, Trusts & Estates

No one likes to think about the practical details that follow a death. But if you have ever helped settle a loved one’s affairs, you know how quickly grief can become mixed with confusion and overwhelm. Where is the will? What bank did they use? Was there life insurance? Who needs to be notified?

I see this situation often. Executors and successor trustees are usually family members or trusted friends who are trying to do the right thing at a difficult time. Too often, they are also forced to search through drawers, filing cabinets, old emails, safe deposit boxes and piles of paper just to figure out what exists and where to begin. I once had someone throw a black yard waste bag of documents on the desk for us to sort through.

The good news is that a little organization now can make a tremendous difference later. By leaving clear, current information for your executor or successor trustee, you can help reduce stress, avoid delays and give your loved ones a practical roadmap when they need it most.

Create a Contact List for Your Executor or Successor Trustee

Your executor or successor trustee may know your immediate family, but they may not know everyone who should be contacted after your death. A simple contact list can prevent confusion and ensure that important people are not overlooked.

What to include:

• Full names, phone numbers, email addresses and mailing addresses
• Relationship to you (family member, close friend, business partner, etc.)
• Any special instructions (for example, “notify Jane first” or “do not contact until after services”)

This does not need to be complicated. A typed list, spreadsheet or clearly labeled document is enough, so long as it is accurate and easy to find. Review it once a year, or whenever someone’s contact information changes.

Make Your Estate Planning Documents Easy to Find

A well drafted will or trust is only helpful if someone can find it. Your executor or successor trustee should know where your original estate planning documents are stored and how to access them when the time comes.

Tell your executor or successor trustee where to find your will, trust, powers of attorney, health care directives and any related documents. They may be in a home safe, fireproof filing cabinet, safe deposit box, attorney’s office or, because real life is not always perfectly organized, somewhere less formal.
The important thing is that your fiduciary knows where to look and has a clear path to access the documents when needed.

Prepare an Asset and Debt Inventory for Estate Administration

One of the hardest jobs for an executor or trustee is figuring out what assets exist, where they are located and what debts need to be addressed. In Ohio probate administration, an executor or administrator generally must file an inventory within three months after appointment, unless the probate court grants an extension for good cause. That inventory includes the decedent’s interest in real property and tangible and intangible personal property that is to be administered and that has come to the executor’s possession or knowledge.

Create a master list that includes:

Financial Accounts

• Bank names, branch locations, and account types (checking, savings, money market)
• Account numbers (or at least the institution name and approximate balance)
• Financial advisor contact information

Investment and Retirement Accounts

• Brokerage accounts, IRAs, 401(k)s, pensions
• Institution names and account numbers
• Beneficiary designations (confirm these are current)

Insurance Policies

• Life insurance (term and whole life)
• Homeowners and auto insurance
• Umbrella liability policies
• Long-term care insurance
• Policy numbers and company contact information

Real Estate

• Property addresses
• Mortgage information (lender, account number, balance)
• Property tax records

Vehicles and Titled Property

• Make, model, year, color, and VIN
• Location of the original certificate of title and registration
• Name and contact information for any lender or lienholder, account number, approximate payoff balance

Debts and Liabilities

• Credit card accounts (issuer, account number, approximate balance)
• Auto loans, personal loans, or lines of credit
• Outstanding medical bills or other obligations

Business Interests

• Ownership in closely held businesses, partnerships, or LLCs
• Business operating agreements and buy-sell agreements

Some families keep this information in a binder, file box or digital folder. I have heard people call it a “death box,” which may sound blunt, but the idea is to put the information your loved ones will need in one reliable place.

Be careful with sensitive information. You do not need to put usernames, passwords or full account credentials in the same binder or spreadsheet. Consider using a secure password manager and leaving your executor or successor trustee instructions for how to access it when appropriate.

Organize Digital Assets, Social Media, and Online Accounts

Estate administration is no longer limited to paper statements and property deeds. Many people now have important information stored in email accounts, cloud storage, phones, social media profiles, online photo libraries, subscription accounts and digital wallets. If no one knows those accounts exist, valuable information may be missed or lost.

• Facebook: Designate a legacy contact who can manage your memorialized account or request account deletion. Visit Facebook’s Help Center for instructions.
• Apple devices and iCloud:Add a Legacy Contact through your Apple Account settings. This person will be able to access photos, messages, notes and other data stored in iCloud after your death.
• Google / Android accounts:Use Google’s Inactive Account Manager to designate a trusted contact and specify what should happen to your data after a period of inactivity.
• Other accounts:Review terms of service for email providers, financial platforms, subscription services and any other online accounts. Some allow you to designate a beneficiary or legacy contact; others require different procedures.

At a minimum, keep a list of significant digital accounts and let your fiduciary know where to find access instructions. The goal is not to make everything public during your lifetime; the goal is to avoid leaving your fiduciary locked out when access is needed.

Review and Update Your Estate Information Annually

Estate organization is not a one-time project. Accounts change, beneficiaries change and families change. A list that was accurate five years ago may be more confusing than helpful today.

Set a recurring annual reminder to:

• Review and update your contact list
• Verify that beneficiary designations remain current
• Confirm account information is accurate
• Update digital asset access instructions
• Check that your executor or successor trustee still knows where to find everything

How an Estate Planning Attorney Can Help

Taking the time to organize your estate information is an act of care for the people you trust most. If you are not sure what information to gather, how to store it securely or whether your current plan still fits your circumstances, an estate planning attorney can help you think through the practical details before they become urgent.

At Isaac Wiles, we help families plan ahead for estate administration and trust administration so that loved ones are not left guessing. For more information or to schedule a consultation, please contact me at cfritz@isaacwiles.com.