{"id":16575,"date":"2023-04-26T17:10:05","date_gmt":"2023-04-26T22:10:05","guid":{"rendered":"https:\/\/www.sfw.cpa\/news-and-guides\/?p=16575"},"modified":"2023-04-26T12:10:05","modified_gmt":"2023-04-26T17:10:05","slug":"an-estate-planning-road-map-can-act-as-a-catchall-for-your-final-thoughts","status":"publish","type":"post","link":"https:\/\/www.sfw.cpa\/news-and-guides\/an-estate-planning-road-map-can-act-as-a-catchall-for-your-final-thoughts\/","title":{"rendered":"An estate planning \u201croad map\u201d can act as a catchall for your final thoughts"},"content":{"rendered":"

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No matter how much effort you\u2019ve invested in crafting an estate plan, your will, trusts and other official documents may not be enough. Consider also drafting a \u201croad map.\u201d Essentially, it\u2019s an informal letter that guides your family in executing your plan according to your wishes.<\/p>\n

What to address<\/strong><\/p>\n

Among other things, your road map may include:<\/p>\n

\n
A list of important contacts, including your estate planning attorney, accountant, insurance agent and financial advisors,<\/li>\n
The location of your will, living and other trusts, tax returns and records, powers of attorney, insurance policies, deeds, and automobile titles,<\/li>\n
A personal financial statement that lists stocks, bonds, real estate, bank accounts, retirement plans, vehicles and other assets, as well as information about mortgages, credit cards, and other debts,<\/li>\n
An inventory of digital assets \u2014 such as email accounts, online bank and brokerage accounts, online photo galleries, digital music and book collections, and social media accounts \u2014 including login credentials or a description of arrangements made to provide your representative with access,<\/li>\n
Computer passwords and home security system codes,<\/li>\n
Safe combinations and the location of any safety deposit boxes and keys, and<\/li>\n
The location of family heirlooms or other valuable personal property.<\/li>\n<\/ul>\n
If you\u2019ve preplanned your funeral, include information about the arrangements. If you haven\u2019t preplanned it, consider explaining your burial wishes in the road map.<\/p>\n
Communicate your motives<\/strong><\/p>\n
Use the road map to explain your reasoning behind certain estate planning decisions. Doing so can go a long way toward easing disputes over your estate after you\u2019re gone.<\/p>\n
For example, perhaps you\u2019re distributing your assets unequally, distributing specific assets to specific heirs or placing certain restrictions on an heir\u2019s entitlement to trust distributions. There are many good reasons for these strategies, but it\u2019s important for your family to understand your motives to avoid hurt feelings.<\/p>\n
Finally, like other estate planning documents, your road map won\u2019t be effective unless your family knows where to find it, so consider leaving it with a trusted advisor. Contact us if you\u2019d like help drafting an estate planning road map.<\/p>\n
\u00a9 2023<\/em><\/p>\n
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No matter how much effort you\u2019ve invested in crafting an estate plan, your will, trusts and other official documents may not be enough. Consider also drafting a \u201croad map.\u201d Essentially, it\u2019s an informal letter that guides your family in executing your plan according to your wishes. What to address Among other things, your road map […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,9,10],"tags":[8,11,12],"class_list":["post-16575","post","type-post","status-publish","format-standard","hentry","category-articles","category-estates","category-news","tag-articles","tag-news","tag-updates"],"_links":{"self":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/16575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/comments?post=16575"}],"version-history":[{"count":1,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/16575\/revisions"}],"predecessor-version":[{"id":16576,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/16575\/revisions\/16576"}],"wp:attachment":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/media?parent=16575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/categories?post=16575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/tags?post=16575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}