You might be interested in a recent article at CNBC.com titled How to Manage Your Death Portfolio, online at http://www.cnbc.com/id/37088214. It’s another good example of an article that recognizes the need for more than a basic will.
“Most people have the traditional legal documents, but they don’t have a simple Family Love Letter,” says Craig Silverman, retirement planning specialist with AXA Advisors in Melville, NY.
The letter that Silverman is referring to is a 50-page document, created by Jeff Scroggin, partner in Scroggin & Company in Roswell, Ga., and includes an inventory of advisors, assets and other information. It even contains details like account passwords.
Each of Ross Estate Planning Portfolios have a place for all of this information to be provided to your family and Advisors. We call it your homework. We have thought of simple stuff like putting down the whereabouts of a bank safety deposit box, and the personal property list.
Is your Family Love Letter up to date? If not check out a new service for Ross Estate Planning clients called “The R Club”.