Discussing how to deal with “life after death” with loved ones is not an easy topic for most families, much less planning for it. While it may sound morbid, creating a “When I Die” folder will save loved ones time and money because nothing is more time consuming and agonizing than sorting through a month’s worth of mail, rifling through cabinets to locate a last will and testament and trying to sort out all the different policies that are accumulated through the years.
While you may be thinking, I don’t have so much that I require a folder. Actually, the opposite is true. A “When I Die” folder is about much more than you’re your assets; it should include debts, funeral and final disposition arrangements, passwords, and letters to loved ones, among other things. The difference between having your files organized or not is about more than just stress; leave behind a mess and it can delay inheritors’ access to funds and cause potentially high legal fees.
The ”When I die” folder can be a physical or digital folder that an individual or family keeps that contains important information that will be needed in the event that someone dies or becomes incapacitated. It serves an important, but often overlooked role in estate planning.
A good start to your folder can be found BELOW to enable you to start one for yourself or for a family member, please feel free to adapt it.