Part of a good financial or estate legacy is having documentation around said legacy.
This is what we call a legacy drawer or legacy kit.
Your legacy kit should contain plenty of documentation around resources, instructions, and contact information in the event of your untimely and eventual death.This is planning at its best.
First of all, a legacy drawer should have a last will and testament.
Your will is easy to create as you can now do them online and rather inexpensively.
It doesn’t hurt to have these notarized as well.
Your will can be as simple as a one sheet or as complex as a multi-sheet legal and binding document.
Secondly, you should have your life insurance information in your legacy kit. It should contain complete documents around your death benefits, beneficiaries and all policies available.
Thirdly, your legacy kit should have all your pertinent phone numbers for people such as your lawyer, accountant, insurance person, and others who will know your personal and financial affairs.
Lastly, a good legacy drawer or kit has miscellaneous documents such as trusts, power of attorney, and other ancillary documents which might prove important upon your eminent and glorious departure.
Once you have these in place make sure they’re in a safe spot.
Make sure it is fireproof and tamper-proof.
Make sure others know where it is so they can get to it upon your departure.
This document treasure trove will make what is probably the hardest day in your loved ones’ life just a little easier.
The absence of this document container will cause a living hell.
Having to sort out your affairs is something that you should do early and thoroughly. It’s not that hard to do although it will take some days to assemble it.
Doing this is the highest form of love for your family.
Check it periodically and update it and you will be glad.
They will be ecstatic as they do not have to sort out your financial affairs while you’ve checking out from this dimension.
You can do this — it’s not that difficult.
Stay at it and begin assembling your legacy kit today and you’ll be glad you did.
Scott Hammond works in Eureka and lives in McKinleyville.