Taxation & Estate Planning

The Boston Globe has a recent feature outlining 8 ways to make life easier for your heirs after you pass away.  The things they recommend are:

1. Write a will and keeping it updated,
2. Compile all important information in a notebook - a list of your contacts, burial wishes, account information and where your assets are located, etc.
3. Review your beneficiaries of your retirement accounts and life insurance policies to make sure they are current,
4. Make stock and bond certificates easy to find,
5. Set aside cash to pay last expenses such as burial and utilities on real estate,
6. Write a family letter that passes along your values, and perhaps explains some of your decisions,
7. Clear out clutter,
8. and talk to your family now about your plans.

These are good ideas, and things I usually recommend to clients as well.  Read the feature here.