Creating a “life after me” document

Most people are familiar with wills. These legal documents explain what an individual wants done with his or her property, assets and belongings once he or she passes away. However, a will is impersonal. It is written by a lawyer who uses the proper language to make the document legal and binding. In the event of a death, reading a will isn’t often comforting. Today, many seniors are deciding to also create a life after me plan. Read on to learn about this more personalized document.

What is a life after me document?

Think of what would happen if you were to pass away tomorrow. Would your loved ones know the location of important family heirlooms in your home? Do they have the passwords to your home security system, social media profiles and online banking? There are plenty of things that don’t go in a will that you will still want to share. For example, does your family know where your birth certificate and social security card are? These pieces of information can be crucial in handling after-death matters.

Here are some things to consider including in your life after me document:

• Financial information such as your bank account numbers, taxes, mortgage accounts, outstanding loans, pension documents, stocks and bonds and life insurance plans
• Marriage license
• Divorce papers
• Vehicle title and registration
• Authorization to release medical information (must be completed by you)
• Bill information such as a list of bills you pay and what accounts you use to pay them
• A map of where everything is, like noting that all paperwork is in a specific file cabinet and that your great grandmother’s ruby is in a safety deposit box at a certain bank. Note the location of any keys that are pertinent and consider labeling each one with a color to indicate their use.

Should you make this document?

Because a will is limited, nearly everyone can benefit from creating a life after me document. Seniors can create this important plan while still of sound mind and body and then rest assured knowing they have everything in order for when the time comes. As today’s millennials age, it’s likely that increasing amounts of people will make similar documents because they have so many online accounts that only they know the password to. Social media platforms are even creating systems where individuals can delegate power of their account to another individual in the event that they die. This way the designated person can decide to delete the account or perhaps keep it live in memory of their loved one.

Tips for creating a life after me plan

It might be a good idea for seniors to talk with their friends or family members while making a life after me document. This way they can write down important things but also share the information with their loved ones in real life. Being able to physically show their kids, friends or even grandkids the locales of necessary documents or other items is helpful. Plus, seniors may not think of everything to put on the list – it’s beneficial to have an extra person on the task.