Complete the Estate Plan Inventory Guide in Four Easy Steps
Coping with the death of a loved one is a trying and emotional time. You can help your loved ones through this process by having your financial documentation in good order. By purchasing a life insurance policy from Massachusetts Mutual Life Insurance Company (MassMutual), you’ve already taken the first step.
This inventory guide will help you organize your important documents and provide your loved ones a reference for locating them in the future. This guide should be kept in a safe and convenient location. A copy may also be provided to your trusted advisor for safekeeping. Review this information annually and update as circumstances change.
Table of Contents*
Step 1: Print or Download Guide to Begin Entering Information
Step 2: List Important Locations and People
Create an itemized list of the various locations of your important policies, documents, and advisors.
Example
Note that the address is listed first, with sub-locations listed below. If all of your important documents and policies are not located in one spot within your residence, be sure to specify exact locations.
Example
This lists a Safe Deposit Box along with the phone number, the address, and the key location.
Step 3: Complete Document Location Key
Use the preceding location identifiers to indicate the location of the following applicable documents, using the location’s corresponding letter and sub-location number.
Example
C indicates that the original document can be found in the safe deposit box and A2 indicates that a copy is at your residence in location 2, filing cabinet in office. (See sample locations in Step 2.)
Step 4: Share with a Trusted Contact
Choose a trustworthy friend, family member, or professional (such as an attorney) with whom you can share this information. If you were incapacitated or were to die, this person would be able to use this inventory to find your important documents in order to carry out your wishes. Give serious thought and consideration as to who would be best for this important role.
Consider Making a Digital Assets List
List in a document (separate from your estate planning documents) your digital assets, access information, recipient (if any), and your wishes for each asset. Alternatively, you might consider online password management software. Make sure you provide directions so your executor or other designated party can access that software.
The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees, and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.
Participating whole life insurance policies are issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.
© 2022 Massachusetts Mutual Life Insurance Company (MassMutual®), Springfield, MA 01111-0001.
All rights reserved. www.MassMutual.com.