testamentary will step 1

A news story yesterday brought attention to the fact that plans were being made for what happens after the death of HRH, in an article dubbed “Operation London Bridge: the secret plan for the days after the Queen’s death”. It was quite eerie but sufficiently compelling enough to remind myself and others that like Queen Elizabeth we should make sure our business is in order. There will be no shaming of the procrastinators but today we will get started on the Will, no pun intended. With manageable increments taking one step at a time we cannot get overwhelmed with the task. The first step is to take an inventory of our possessions. This is to help  identify your assets for purposes of including in your last Will and Testament. The list below can help you get started, it is just a guide.  It is possible that all of your items may not be included and some may not be applicable to you.

•  Cash and bank accounts, where located and account number
•  Location of safety deposit box and important papers
•  Life insurance policies with whom, for what amount, beneficiary
•  Shares, pension; stocks, bonds 
•  Your house, type of ownership, current market value amount of your equity ,mortgage
•  Rental property value, equity, mortgage. land value and location
•  Businesses information owned, partnership, companies you have interest in
•  Any inheritance expected money or assets
•  Personal effects
•  Household furnishings cars, boats, jewellery, other belongings of sentimental value

 You may want  to use this weekend to complete step 1. Next week step 2 list  helps you decide who is best  to administer your estate.