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Estate Planning: Summary Sheets

Estate Planning [1]After taking 10 minutes today to jot down the list of items bouncing around in my head and assigning those items to a time frame [2] dedicated to focus on them, I’m so much more productive.

When I only have a few items to accomplish, then I can just remember. But as the list grows, I just need pen and paper to brain dump onto the page. For me, freedom ensues without worrying that I’m going to forget something.

In concentrating on our estate planning documents, jotting down the important information and keeping it in one place frees me for when we may need the information. To keep the contact information easily accessible, I have created summary sheets [3] with detailed information in one place. Located behind our Estate Planning package documents, I place these summary sheets within file opening 7 of our file box 3 [4].

Types of Summary Sheets

The goal of summary sheets is to go to one file opening and gain information needed should one or both of us pass away. The research is done and recorded to save time when the information is needed, and one might not be thinking straight.

Beneficiary Information

To keep our information uniform, we have selected the same beneficiaries for our financial information. Keeping a sheet with their full names, Social Security numbers, dates of birth, phone numbers, and addresses will make contacting them easy.

Personal Information

This summary sheet includes our full names, Social Security numbers, dates of birth, places of birth, mother’s maiden names, addresses, and phone numbers. This information will be asked should a death certificate get issued.

Life Insurance Information

A copy of the summary page from our life insurance policies [5] are kept within this file opening.

Work Benefits Information

This summary sheet included contact information for Paul’s work, his employee number, and information regarding claims and benefits for long term disability, life insurance offered through employer, and health benefits.

Flexible Spending Account Information

The executor of our estate will need access to this account should any medical bills arise for our care. Keeping this information along with the location to find additional documentation is noted on this summary sheet.

Short-term Disability Information

In the event that we become incapacitated, then our health care agents may need access to short-term disability benefits before moving into the long-term disability claims. This information is kept on a summary sheet in this file.

Critical Illness and Cancer Policy Information

This policy has different ways to contact the company depending on the situation. The summary page records the different scenarios and the instructions. With the information available, this summary page will save time when access is needed, as one does not need to spend extra time trying to research while emotions are high.

Cord Blood Banking Information

This summary sheet informs our executor of these policies and responsibilities for our children.

Retirement Information

Beneficiary and contact information for each of our accounts is listed on this summary page.

Benefits of Summary Sheets

These summary pages are specific to our accounts. As I am the one who files and maintains these accounts, I want to make sure that information is easily accessible should I become unable to retrieve them. Keeping the same information in multiple places, where one might look for the information, allows me to rest easy knowing that the information will be found.

Making these summary pages takes time to research and call representatives, but the information is good to know now for planning. In my research, I discovered that one policy requires certified copies of our birth certificates as well as the death certificate for payment.

Filing our certified birth certificates with that policy will save time and energy should a claim get filed. If one does not have a certified birth certificate [6], then getting one takes some time.

This Summary Sheets step is simply a planning for the future step, and it completes the 7th file opening of file box 3 [4]. Together our Last Will and Testament [7], General Power of Attorney [8], and Health Care Power of Attorney [9] comprise the first opening of our estate planning documents.

As you plan for the future, consider creating summary pages with the important information needed to contact the providers. These sheets help save time and energy. Happy organizing!