What Do I Do with My Estate Plan Documents?

The article advises on managing important documents within an estate plan:

1. Document Storage: Original documents can be kept in a safe place at home or in a safe deposit box. If using a safe deposit box, ensure someone else is named and has access in case of an emergency. Family members and the trustee should know the location and contents of these documents.
2. Health Care Directives: Distribute copies of health care directives to the primary care doctor and designated agents. Discuss specific end-of-life wishes with agents, covering aspects like life support, organ donation, burial preferences, and funeral arrangements.
3. Asset Title Changes: Ensure all assets, including real estate and financial accounts, are titled appropriately. For a Revocable Living Trust, accounts can be maintained under the owner's Social Security number. Otherwise, an EIN (employer identification number) may be needed.
4. Beneficiary Designations: Review beneficiary designations on life insurance, pension, and retirement plans to align with the estate plan. If joint titles with family or friends were set up for convenience, check compatibility with the estate plan and make changes if necessary.
5. Paperwork Organization: Organize important paperwork, including life insurance policies, retirement accounts, bank statements, safe deposit box details, debts, professional advisers' contacts, and the last three years of tax returns.
6. Continuous Review: Treat the estate plan as a work in progress. Changes in life, such as births, deaths, disabilities, marriages, divorces, financial shifts, or alterations in tax laws, necessitate a periodic review of the estate plan with an attorney to ensure its continued relevance and effectiveness.

(http://www.pe.com/2017/08/19/women-on-money-and-mindset-ive-signed-my-estate-plan-documents-im-finally-done-right/ - article summarised by ChatGPT 3.5)