When you are planning your estate, or if you will be acting as an executor for someone else, communicating your plan ensures your loved ones will have the information they need to carry out your wishes. An information package for key people may include:
- a copy of your will, living will and other estate documents;
- a list and description of your major assets (e.g. real estate deeds, investments or items and collectibles with substantial value) and outstanding debts (e.g. mortgage, loans, credit card(s));
- a list of all your financial accounts – e.g. bank and investment;
- a list of additional benefits – e.g. life insurance or pensions; and
- the name and contact details of the lawyer or accountant you have used and their function.
Your estate plan and information package should be discussed and provided to those who need it – your executor, spouse, adult children and any other key people. Visit the Ministry of the Attorney General for further information on estate planning, and learn more about communicating your estate plan.