Empowering Your Executor: A Comprehensive Guide to Organizing Your Estate Information

If you want to make things easier for your estate trustee when they are called upon to act, one of the best things you can do for them is compile essential information that they will need to administer your estate. Gathering this information in advance can reduce the burden on your estate trustee at a difficult time. Below is a guide to the types of information that will be useful for your estate trustee. Remember to keep this information in a safe place where your trustee will be able to access it if called upon to act.

• Contact Information: Begin with a detailed list of key contacts, including family members, friends, lawyers, accountants, and financial advisors. Make sure to include their names, addresses, phone numbers, and email addresses. This will help your estate trustee notify the relevant parties and seek advice if necessary.

• Legal Documents: Ensure your estate trustee has access to important legal documents, such as your will, powers of attorney, life insurance declarations and any trust agreements. Ensure your estate trustee knows where the original copies of these documents are stored.

• Financial Assets: Provide a comprehensive list of your financial assets, including bank accounts, investments, and any outstanding loans or debts. Include relevant details like account numbers, financial institution names, and contact information.

• Real Estate: Clearly outline all real properties you own, including title and mortgage information. Create a listing of your various utilities and corresponding account numbers. For properties like cottages or chalets, putting together capital cost information can be particularly helpful.

• Digital Assets: In the digital age, don't overlook your online presence. Compile a list of your digital assets, including social media accounts, email addresses, and online subscriptions. Specify your preferences regarding the management or closure of these accounts.

• Insurance Policies: Provide details about your life insurance policies, health insurance, real property insurance, and any other insurance coverage.

• Funeral and Burial Wishes: Clearly express your preferences for your funeral and burial arrangements, and provide details for any pre-planned arrangements. If you have specific wishes, such as cremation, organ donation, or a particular type of service, communicate these details to your estate trustee.

• Safe Deposit Box Information: If you have a safe deposit box, provide its location, the key or access details, and a list of its contents.

Remember to regularly update this information as circumstances change, and communicate openly with your chosen trustee to address any questions they may have. By doing so, you contribute to the peace of mind of both yourself and those you leave behind.

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