Organizing Your Life for Your Death: 5 Things to Do Before You Die

By: Dana Walsh Sivak

It’s true what they say - “you can’t take it with you” - but if you don’t plan ahead for your death, you risk leaving behind a complicated mess for your loved ones to unravel after you’re gone.   

There is nothing more difficult than navigating the death of a loved one. Our estate administration attorneys often lament how much more difficult it can be when surviving family members have to try to figure out where assets are located after their loved one has died.   

Family members often don’t know where to find important information, and are instead left trying to fit together random bills, letters, and financial documents, like pieces of a puzzle. But waiting for mail to arrive to get bank and investment statements is not a great solution – and in an age where important financial information is only available online, they may miss valuable online assets completely.  

For those who want to do what they can now, to ease the stress of navigating the estate administration process later, there is an easier way. Here are five simple tips you can use now to organize your affairs before you die.

1.  Take Inventory of Your Assets, and Create an Asset Notebook  
   
   

   Our attorneys recommend creating a physical binder or folder to hold and organize your asset information. (This can be basic, or you can get crafty –you can download a printable guide online to help you get started, or you can even buy one of the many financial organizational products available in stores and online, if you’d prefer).
   
   Some important documents (“the basics”) that should be in the binder or folder are:

   • One (paper) statement from each financial account you have (keeping in mind that the most recent statement will have the most current information);  
   • The “Declarations” page of each insurance policy you own;  
   • Documents showing the beneficiary designations for “payable-on-death" accounts, life insurance policies, and any pension/401K plans you have; 
   • Copies of your estate planning documents (including your Last Will and Testament and any Trust documents); 
   • A copy of your advance directives (such as your Health Care Proxy and Power of Attorney;  
   • Copies of your recent tax returns (3-5 years, to be extra thorough, but last year’s tax returns, at a minimum).  
     

   Once your asset notebook is created, and you’ve recorded the important details noted above - in addition to “the basics” - collecting the following documents, and keeping them in one place, will make the process of winding down your affairs much easier for your loved ones: 

   • Your Last Will & Testament (note – if this is an original signed Last Will and Testament, do not remove the staple!) 
   • Trust documents (if applicable), including all schedules/attachments, and any codicils or restatements later executed (keep all of these documents together in one place) 
   • Birth certificate(s) 
   • Social Security card(s) and number(s) 
   • Marriage certificate(s) 
   • Citizenship papers (if applicable) 
   • Divorce/separation papers (if applicable) 
   • Adoption papers (if applicable) 
   • Military records (if applicable – include spouse’s records) 
   • Documentation regarding your financial assets (including institution names, account numbers, form of ownership for accounts, current balances of the accounts), including but not limited to: cash, bank accounts, stocks, bonds, mutual funds, money market funds, retirement and pension plans, IRAs, annuities, and life insurance 
   • Real estate papers (copies of deeds, appraisals, insurance information, etc.) 
   • For individuals who are self-employed or business owners, copies of any operating agreements and financial account information relating to the business, and names/contact information for individuals at the business to be notified in the event of your death 
   • Other assets (location of items/titles/documents/form of ownership, current value), including automobiles, boats, inheritances, precious gems, collectibles, household items, hidden valuables/items in storage, loans to family members/friends 
   • Documentation regarding any financial liabilities you may have (including information about the financial institution and amount/type of debt, for all liabilities, including mortgages, personal loans, credit cards, notes, IOUs, etc.)  
     
   ** Important note: If copies of these documents (only) are included in this paperwork, be sure to note where the originals can be located!  This will be important, as original documents will ultimately be required (for at least some of these items) in order to settle all of your affairs. If additional documents are located in a safe in your home, make sure someone has the combination to access the safe. 
   
   

   Other information that should be recorded in the binder includes: 

   • If you have a safe deposit box, write down the information about where the box is located, where the keys can be found, and whether there is any other joint owner of the safe deposit box; 
   • Information about any pre-need funeral account, deed to a burial plot, or other documentation relating to funeral planning, if applicable; 
   • The name and contact information for your estate planning attorney (and indicate whether your attorney is holding the copy of your original Last Will and Testament, or any other relevant estate planning documents); 
   • Important passwords that may be needed to access online financial accounts, including the password to your email account(s) and the passcode for your phone (provided that you are comfortable sharing the information in your phone with your estate fiduciary upon your death). 

   If a physical notebook is not for you, you can use an online program to keep your financial information stored in one place. This would give your family a roadmap, although it is not as good as a comprehensive financial binder.  Be especially mindful of the risk of computer hackers attempting to gain access to this data before entering any personal information into your computer or a website – given the prevalence of phishing and other forms of cybercrime today, at a minimum, it would not be advisable that you input a list of all of your account passwords into any online program. 

2. Create a Family Tree
   
   Somewhere along the line, conventional wisdom said “don’t write down your passwords – someone will steal them!” The chances of having a burglar come into your home and steal your password book are small, whereas having passwords for your financial accounts will allow your executor to access important financial data without having to wait. REMEMBER: include the password for your phone. Two-factor authentication will stop your executor from having access to your online accounts if they are unable to verify due to being unable to access your phone.
   
   

   Especially for those individuals without an immediate family consisting of a spouse and children, it’s very helpful to map out for your future fiduciary (and the estate attorney they work with, if applicable) who the members of your family are, and how to contact them.   

   You don’t need to trace the roots of your ancestry or include your mother’s 8th cousin, twice removed – but, at a minimum, list the names, addresses, e-mail addresses, and phone numbers for your spouse, children, grandchildren, siblings, nieces and nephews, and aunts and uncles.   

   If you have a blended family, make sure to include and identify any step-children, prior marriages, or non-marital children in the family tree. 

3. Leave Instructions for How to Access E-mail and Social Media Accounts (and Designate a “Legacy Account" Administrator When Possible)
   
   

   Technology has been weaved so inextricably into our daily lives that most people would struggle to function without having access to today’s popular applications – social media platforms like Facebook, Instagram, Twitter, LinkedIn, Snapchat, Reddit, and TikTok are not only how many of us communicate with people in our lives, but they also serve as a time capsule, capturing special moments, thoughts and musings, and memories you and your loved ones can cherish for years to come. 

   What, then, becomes of your social media accounts when you die – and who controls them?  First, you should consider what you would want to have happen to your accounts; would you want someone to shut them down, or create a memorial page where they could live on?  Are you even comfortable having someone access your private account information – pictures, messages, and group chats - and if so, who? 

   If you want to make it possible for someone to access your social media or email accounts, the first thing you can do is compile a list of your account information – including log-in and password information – and keep it in a secure place, along with written instructions about what you’d like them to do with your accounts after your death.  Having access to your primary email account and your primary phone will allow you to verify log-ins from new devices when multifactor authentication is required, so it’s a good idea to have that log-in information (and cell phone passcode) included, as well. 

   Depending on the social media platform, you may be able to designate how your account should be handled in dictating what your “legacy account” would look like.  This person would be able to then control your account following your passing, likely bypassing any legal channels and working directly with the platform itself to gain access and manage the account after death.   

4. Write a Letter (or Letters) to Loved Ones 
   
   

   Sometimes the most important “unfinished business” we have is the words we've left unsaid, and for some people, leaving sentimental gifts or messages for their loved ones is an important part of their planning process. This may include letters about personal items that you’d like to have given to certain people (especially in cases where wills do not specify a distribution of personal property, leaving it to heirs to decide amongst themselves how to divide these items).  While a letter like this would not be considered legally binding, it would provide some guidance to your family in determining how to best carry out your wishes. 

   There are other practical instructions you can provide, such as how to care for a pet, a child, or a loved one with special needs for whom you are a caregiver. Sometimes special circumstances call for specific mentions; are you the parent of an autistic adult, who has a favorite show that he loves to watch at a certain time, and other aspects of his routine that you feel are very important to relay?  While a letter cannot possibly capture a lifetime of learned wisdom, if you limit your efforts to conveying practical information that is meant to help in the next steps to come, following your passing, you can make good use of this opportunity to keep your things – and messages to your loved ones – well-organized and instructive. 

5. Tell Someone! (Communicate with Your Future Estate Fiduciary About Your Planning and Where to Find Important Information!)   
   
   

   All of the planning in the world won’t help if you hide the information in a “safe place” and neglect to tell anyone where it is located.  You don’t have to tell your proposed fiduciary all of the details about the contents of your asset notebook, but it’s important that you let them know that it exists, and where to find it in the event of your passing. 
   

Death is an inevitable part of life – and it’s something we don’t always like to talk about, think about, or plan for – but taking these 5 practical steps, and ensuring that your loved ones will have the tools they need to manage your affairs, can make this process a bit easier. Giving your loved ones one less thing to worry about and providing them with clear guidance about how to carry out your final wishes, is perhaps one of the most important gifts you can share with them as you prepare your future plans.  

DISCLAIMER: This summary is not legal advice and does not create any attorney-client relationship. This summary does not provide a definitive legal opinion for any factual situation. Before the firm can provide legal advice or opinion to any person or entity, the specific facts at issue must be reviewed by the firm. Before an attorney-client relationship is formed, the firm must have a signed engagement letter with a client setting forth the Firm’s scope and terms of representation. The information contained herein is based upon the law at the time of publication.