We all know that we should have legal documents and an estate plan in place for our heirs and loved ones. Often, however, these official documents fail to fully capture practical and sentimental information we would like to leave behind in the event of a sudden tragedy.
Many people gain a sense of peace by putting together a “love box” or file to help their children, loved ones, or personal representative navigate life after they are gone. This “love box” can be a shoebox, file drawer, or notebook and can contain documents and other meaningful items. Below are items commonly included, to help you get started on your own “love box.”
–Formal, legal documents such as a last will and testament, living will, revocable trust, healthcare power of attorney, and/or financial power of attorney.
-Important contacts list, including your attorney, financial advisor, accountant, doctor, banker, veterinarian, funeral director, religious clergy, close friends, etc.
–Letter of Intent to explain your estate plan in your own words (e.g., why property is left to one person and not another or why property will be transferred to a trust), and to outline your funeral or memorial preferences.