The Shape of Tax to Come

A Tax & Estate Planning blog for 21st-century Texans

Where is the will? (And LOST preview)

One of the reasons to go through the effort of planning your estate is so that when something happens to you, those you leave behind will know exactly what to do. But all of the best planning in the world will be for naught if you haven’t made fining your documents easy.

The clip from tonight’s episode of LOST shows Jack searching through his father’s papers trying to find his will. Imagine how much easier this could have been if there were a folder marked “important papers.” Rather than having to sift through the mountains of paperwork looking for that will, everything could have been located in one folder.

It is important to let others know where your will is, as well as any other planning documents, such as health care directives, medical powers of attorney, organ donation forms, and guardian designations. The folder should also have a listing of any other property you own so that those left behind will know how much property they are looking for. By having a listing, they can more easily dispose of and distribute your assets as your plans requires. If you don’t have a listing of everything in your estate, your survivors will have that much more trouble guessing where your assets are located.

February 23, 2010 - Posted by | Uncategorized

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