Estate Planning Preparation: 10 Essential Records to Organize for Your Will Executor

As a will executor, you'll be responsible for carrying out the wishes of the deceased person, known as the testator. This can be a daunting task, especially if the testator's affairs are not in order. One of the most important steps in estate planning preparation is organizing records for your will executor. Here are 10 essential records to organize:

1. Will and Trust Documents

The first and most important record to organize is the will and trust documents. These documents outline the testator's wishes for their estate and should be easily accessible by the will executor.

2. Financial Records

Financial records, such as bank statements, investment statements, and tax returns, are crucial for the will executor to understand the testator's financial situation. These records should be organized and easily accessible.

3. Property Records

Property records, such as deeds, titles, and mortgage documents, are essential for the will executor to understand the testator's property holdings. These records should be organized and easily accessible.

4. Insurance Policies

Insurance policies, such as life insurance, health insurance, and auto insurance, should be organized and easily accessible by the will executor. This will help them understand the testator's insurance coverage and make any necessary claims.

5. Tax Records

Tax records, such as tax returns, tax notices, and tax payments, are essential for the will executor to understand the testator's tax obligations. These records should be organized and easily accessible.

6. Business Records

Business records, such as business licenses, articles of incorporation, and business financial statements, are essential for the will executor to understand the testator's business interests. These records should be organized and easily accessible.

7. Personal Records

Personal records, such as birth certificates, marriage certificates, and death certificates, are essential for the will executor to understand the testator's personal history. These records should be organized and easily accessible.

8. Digital Assets

Digital assets, such as online accounts, social media accounts, and email accounts, should be organized and easily accessible by the will executor. This will help them understand the testator's online presence and make any necessary arrangements.

9. Safe Deposit Box Contents

Safe deposit box contents, such as important documents, jewelry, and other valuables, should be organized and easily accessible by the will executor. This will help them understand the testator's safe deposit box contents and make any necessary arrangements.

10. Final Expenses

Final expenses, such as funeral arrangements, burial arrangements, and other end-of-life expenses, should be organized and easily accessible by the will executor. This will help them understand the testator's final wishes and make any necessary arrangements.

In conclusion, organizing records for your will executor is a crucial step in estate planning preparation. By following these 10 essential records to organize, you can ensure that your will executor has the information they need to carry out your wishes.