Critical information where and when you need it

Transcription

1 DOCUMENT LOCATOR & Letter of Instruction Critical information where and when you need it COURTESY OF

2 DOCUMENT LOCATOR & Letter of Instruction PERSONAL INFORMATION (Individual, Spouse, Children) Relationship Date of Birth Place of Birth Your estate encompasses a wide range of information and assets, from investment records to estate planning documents to the intangibles of your legacy. Documenting and communicating this information is crucial in helping your heirs and beneficiaries locate and account for all of your assets. Millions of dollars go unclaimed from banks and insurance companies each year, or are frozen in court proceedings; getting and staying organized now can help you and your heirs to avoid such issues. In this Document Locator you will find a place to record the following: Personal Information p. 1 for you and your family members, including Social Security Numbers Key Contacts p. 2 such as Attorney, Accountant, Financial Advisor, Insurance Agent, Physician Important Documents & Assets p. 3-7 indicate the location of important documents such as your Trust, Will, Birth Certificates, Deeds, Employment Records, Insurance Policies, Financial and Investment Accounts, and other Legacy items Letter of Instruction p provides details as to how you would like your caregivers to proceed in the event of your death or incapacitation We encourage you to set aside time to seriously consider your legacy. What do you own? Where are your original documents? How should your assets be titled? What are your outstanding debts? Who are your heirs, or trustees, and your executor? Then complete the information in this piece, updating it as needed, and place it in your AlphaVault for safe keeping. Social Security Number Relationship Place of Birth Social Security Number Relationship Place of Birth Social Security Number Relationship Place of Birth Social Security Number Relationship Place of Birth Social Security Number Relationship Place of Birth Social Security Number Date of Birth Date of Birth Date of Birth Date of Birth Date of Birth 1

3 KEY CONTACTS Attorney Website Account No. (if any) ACCOUNTANT/TAX PREPARER Website Account No. (if any) FINANCIAL ADVISOR Website Account No. (if any) INSURANCE AGENT Website Account No. PRIMARY PHYSICIAN City/State/Zip Password/Log-in Password/Log-in Password/Log-in Password/Log-in POWER OF ATTORNEY FOR FINANCIAL AFFAIRS POWER OF ATTORNEY FOR MEDICAL PURPOSES TRUSTEE EXECUTOR OTHER The only thing you take with you when you re gone is what you leave behind. ~ John Allston 2

4 IMPORTANT DOCUMENTS DOCUMENT LOCATION: Alpha Home Safe Deposit Vault Safe Box Office Other Legal documents, certificates and other records are a vital part of not only your estate but also your family legacy. Identify the location of important documents here by checking the appropriate box. If the location is Other, be specific as to the exact location (i.e. file cabinet in home office, storage box in garage, etc.). LEGACY PERSONAL CERTIFICATES LEGAL FAMILY TRUST Living Will ENTITY OR CORPORATION Power of Attorney - FINANCIAL ADVANCE HEALTH CARE DIRECTIVE Divorce/Separation/ Annulment Papers Social Security Cards Birth Certificates Adoption Papers Marriage Certificates Religious Certificates Family Death Certificates For: Cemetery Plot Deed For: FINAL ARRANGEMENTS (See Letter of Instruction on pgs 7-11 ) Military Records In Whose : Type of Record: Other things may change us, but we start and end with family. ~ Anthony Brandt OTHER Naturalization Papers EMPLOYMENT RECORDS pension plans 3

5 DOCUMENT LOCATION: Alpha Home Safe Deposit Vault Safe Box Office Other HOME MORTGAGE Mortgage Holder: Other property/rentals Owner on Deed: Property is often the most significant part of a person s estate. Your PROPERTY VEHICLES 1. Make/Model/Yr: Location of Title Location of Maintenance Records 2. Make/Model/Yr: Location of Title Location of Maintenance Records SAFE DEPOSIT BOX In Whose : Location of Keys POST OFFICE BOX In Whose : Post Office Branch: Location of Keys real estate holdings and property can include your main residence, vacation home, time share, rental property, land, vehicles (cars, boats, etc), as well as items stored in a safe deposit box or storage unit. Be sure to indicate the location of important records and keys so your survivors have the necessary access to your property. Also, be sure your holdings are STORAGE UNIT In Whose : Storage Company: Location of Keys titled properly, whether it be personal, trust, or retirement. LIFE Policy No.: DISABILITY AND/OR LONG-TERM HEALTH CARE INSURANCE POLICIES Policy No.: HOMEOWNERS Policy No.: MEDICAL/HEALTH Policy No.: MEDICARE ID No.: auto Policy No.: The happiest life ends before death. ~ Chinese Proverb 4

6 DOCUMENT LOCATION: Alpha Home Safe Deposit Vault Safe Box Office Other CHECKING Your financial assets and liabilities may be wide and varied from savings accounts, IRAs and stock investments to credit cards and loans. Review your beneficiaries, who are they, are they correct, do they need to be updated? Providing this information will prove valuable in FINANCIAL ASSETS Account No: SAVINGS Account No: CERTIFICATE OF DEPOSIT Account No: TRUST FUNDS For the Benefit of: Trustee: Attorney: LOANS PAYABLE TO US From Whom: helping your family sort out your income and financial obligations. Phone No: SOCIAL SECURITY PAPERS OTHER Account No: INSTALLMENT LOAN Account No: INSTALLMENT LOAN Account No: FINANCIAL LIABILITIES CREDIT CARD Creditor: CREDIT CARD Creditor: CREDIT CARD Creditor: CREDIT CARD It is precisely the uncertainty of this world that makes life worth living. ~ Japanese Proverb Creditor: OTHER 5

7 DOCUMENT LOCATION: Alpha Home Safe Deposit Vault Safe Box Office Other INVESTMENTS BROKERAGE ACCT/DIRECTLY HELD INVESTMENTS BROKERAGE ACCT/DIRECTLY HELD INVESTMENTS ANNUITY Broker: ANNUITY Broker: IRA In Whose : IRA In Whose : 401(k) In Whose : 401(k) In Whose : EMPLOYMENT BENEFITS/PENSION EMPLOYMENT BENEFITS/PENSION 529/COLLEGE SAVINGS Beneficiary: 529/COLLEGE SAVINGS Beneficiary: OTHER There is in the act of preparing, the moment you start caring. ~ Sir Winston Churchill 6

8 OTHER ASSETS ITEM LOCATION: Alpha Home Safe Deposit Vault Safe Box Office Other As part of your estate, you may be in possession of other property or valuables that you would like kept in the family. For example, you may have ANTIQUES & HEIRLOOMS jewelry or furniture that has been handed down for generations in your family. Or you may have irreplaceable family photos, scrapbooks, or other documents. FURNITURE/ARTWORK Identify those items and their location here, including any legacy plans you may have created or other important items of note for your survivors. OTHER ASSETS JEWELRY / CLOTHING PHOTO ALBUMS/SCRAPBOOKS vehicles IMPORTANT KEYS For/Description: For/Description: For/Description: A good name is a second inheritance. 7 ~ German Proverb LEGACY PLANS CASH OTHER OTHER OTHER OTHER

9 LETTER OF INSTRUCTION Date: Created by: This Letter of Instruction is divided into two sections: 1. If I become incapacitated. 2. If I have died. SECTION 1: IF I BECOME INCAPACITATED 1. Gather all current fixed expenses, i.e. mortgage, rent, utilities, automotive obligations (loan/lease/insurance) and medical insurance, communication, educational/professional loans. Pay the bills that are still applicable. Be sure to discontinue all fixed expenses that are no longer warranted, and determine if any medical insurance includes premium waivers in the event of incapacitation. If it is determined that I will not be moving back into my house, or able to drive my automobile, consider selling those assets. 2. If I am under the care of a private medical practitioner, it is imperative that the following are executed: Take an inventory of all my personal effects, i.e. jewelry, cash and other valuables, to avoid any abuse that could take place while I m incapacitated. Establish a clear plan of care and costs for that care. Determine what medical insurance will and will not pay for. This Letter of Instruction is a critical document for those who you have instructed and asked to represent you in the event of your untimely death or incapacitation. When the time comes, this document should be used to help answer any outstanding questions and provide additional insight as to the spirit in which you would like to have your wishes carried out. The recipient(s) of this letter should understand that you are relying on them to execute their duties according to your wishes. The contents of this entire Document Locator & Letter of Instruction booklet are designed to help minimize uncertainties. Your personal wishes can be spelled out in the Five Wishes booklet to help your family and survivors understand the manner in which you wish to be cared for and what is important to you during this phase of your life in the event that you become incapacitated. Contact your Ken Stern & Associates advisor for a copy of this additional key document. Obtain proof that the medical professionals are bonded, licensed and are easy to communicate with. Cancel all automatic bill payments that may have been in effect. 3. Meet with my advisory team (Power Players), including trustees, money manager, attorney, accountant, etc. Be sure to discuss strategic changes with regard to asset rebalancing, tax returns or legal documents. 4. Review all financial institutions listed in my Document Locator. Provide my Advance Health Care Directive and Financial Power of Attorney documents to my agent(s) in fact and legal counsel. 8

10 SECTION 2: IF I HAVE DIED Making your final arrangements while you are still of sound mind and body helps to ensure that your wishes are adequately documented and will be properly carried out. As you can see, there are many aspects and details of your final arrangements to consider. Prior to completing this section, discuss the options with your family. You may find inspiration in the final arrangements of a close friend or family member. Additional instructions you may want to include would be donating your body or organs, the care of any pets you may leave behind, and any pre-paid financial plan you may have for your arrangements. Please ensure that this Letter of Instruction is given to my trustee. Although they should have complete trustee instructions, they can still use this as a guide. 1. Upon my death, I would like the following individuals to be notified: (attach separate list as needed) 2. My burial instructions are as follows: r I WANT MY BODY BURIED Phone Number Phone Number Phone Number Phone Number r Open Casket r Closed Casket Mortuary/Funeral Home Clothes I Wish to Wear r I want my body cremated Mortuary/Cremation Facility Ashes to be: r Scattered on Land or Water r Buried/Stored Above Ground r Kept with Family or Friend Describe other wishes: (i.e., embalming, pre-cremation, container for ashes) Funeral or memorial Service Church or Synogogue / Location Pall Bearers Music Readings / Prayers / Poems / Letters Military Honors Cemetary / Location Burial Site Section / Plot No. / Grave No. (if purchased in advance) Epitaph Burial Marker Obituary Other Wishes 9

11 3. Carefully verify every expense that presents itself. Unfortunately, some of these may be sent from scam artists or sent in error, so be sure to verify each one. Among the list of expenses to discontinue are: all leases, rent, domestic help, and outstanding contracts. 4. Make sure you go through my mail thoroughly. After a while, solicitations may all begin to look like form letters. However, keep in mind that one may be a check from an insurance company or other legitimate source. 5. Consult counsel to determine what other documents may be required, including, but not limited to, marriage certificates, affidavits of domicile, and death certificates. There are legal considerations to take into account when planning and executing your final arrangements. Doing research in advance, understanding pertinent laws and regulations, and consulting an attorney can help you avoid many obstacles that might impede your survivors from carrying out your exact wishes. 6. Use the Document Locator section of this booklet to marshall all of the assets. Value all assets as of the date of death. 7. File insurance claims. Refer to the Document Locator for information on all accounts and policies. 8. Review all beneficiaries of my assets. Each account may differ. 9. Notify all government agencies of my death: Post Office, Social Security ( ), Medicare, etc. 10. I have made a gift declaration as part of my succession planning. Paperwork can be found in the following location:. Please commence distributing these gifts to the respective people after receiving authorization from legal and tax counsel. 11. Other Instructions: Print Signature Date 10

12 3655 Nobel Drive, Suite 630 San Diego, CA Ken Stern & Associates is a Registered Investment Advisor. Securities offered through First Allied Securities, Inc., A Registered Broker/Dealer, Member FINRA/SIPC CA Insurance License # 0B KS&A does not provide legal or tax advice. For legal and Estate Planning guidance it is necessary to consult an attorney. For tax questions it is necessary to consult a tax professional. KS&A will provide you with referrals to such professionals upon request.