In my own daily struggles to keep organized and prioritized, the value of good record keeping has really become a passion.
The lesson learned? Put it in a box!
When I first started working with Madeline, she was very proud of her own record keeping. She had been a bookkeeper and claimed to be obsessed with her organization. She was almost insulted by my attempts to inventory her assets.
When she passed and I was able to really dig through the cabinets and files, much was discovered:
2 life insurance policies that were not entioned during client intake or at any other time.
An annuity also not mentioned.
An entire set of estate planning documents that had been replaced by a set of trust-mill documents.
We endure the pain, expense and inconvenience of estate planning to ease the way for those we leave behind. If we truly care for those individuals, we owe them the probability of getting through that difficult post-death transition as smoothly as possible.
For myself, I fully intend to do better. Steps include the purchase of one of those fire & water proof file boxes. That box will contain:
Yes. Yes. Yes.
Don the Trustee
When my mother passed very suddenly some 16 years ago, I worked as a trustee for the first time. Her trust contained walnut orchards, peach orchards and a small vineyard. One of the properties was within the sphere of influence of the adjacent city and I dove in with the neighbors and started working on annexation. Loved this work back then and still find it very satisfying today.