This five-part article series provides a detailed discussion of the various important financial documents anyone should gather together to leave behind for their family.

1. San Diego Financial Advisors on Planning for Your FamilY’s liFe aFter Your Death, Part 5
This five-part article series provides a detailed discussion of the various important financial documents anyone should gather together to leave behind for their family.
Welcome to the final installment of this five-part article series on the various documentation you should be gathering together for your family in the event of your death. Before we continue looking at the two final financial spheres you will need to address, here’s a brief recap of everything we have discussed thus far with the help of an experienced team of San Diego financial advisors:
 Your attorney should keep an original copy of your will.
 Details such as contact numbers of your accountant, attorney and financial advisor, as well as information on any funeral arrangements should be available via a letter of instruction.
 Power-of-attorney form in an iron-clad format which hands the responsibility for your financial affairs over to a suitable as well as trustworthy individual.
 All proof of ownership documents of housing, vehicles, land, brokerage accounts, mortgage accounts, stocks and bonds, etc.
 A comprehensive list of any loans and debts that may be outstanding. Loans count as assets and debts will need to be settled out of your estate.
 The last three years’ worth of tax returns to help your executer to determine any assets you may have and to settle your final income-tax bill.
 A list of all the bank accounts you own, their details and any online log-in information.
 Get your spouse or child’s name registered at the bank you keep any safe-deposit boxes and have them sign the necessary papers.
 A weighty health care power-of-attorney form and a living will detailing how you wish to be taken care of should you become incapacitated.
 Authorization to Release Protected Healthcare Information form.
And now…

2. Retirement Accounts and Life Insurance
You signed up for life insurance for a reason and now it’s time for your family to benefit from what you have made provision for. As such, you should leave them with copies of your life insurance policies and information that includes the policy number and the agent they can contact in order to get the ball rolling.
Also be thorough when providing details of life insurance policies connected with your place of employment, urge wealth management professionals in San Diego. Financial advisors frequently miss these and that money often goes unclaimed. In fact, the state of New York alone is sitting with over $400 million in unclaimed life insurance payments! That money would definitely have benefited the many families who suffered the loss of their primary caretaker.
You should create and leave your children and/or spouse with a list of the following:
 401(k) retirement plans,
 Pensions,
 Individual retirement accounts,
 Annuities.
Remember, if you don’t make a claim by the time you’re 70½ years old, your IRA will become considered dormant, so it’s important that your family is aware of any retirement accounts. You want that money to be claimed and used to secure their financial well being; not to languish in some account.
Marriage and Divorce Documentation
Your spouse must know where to find your marriage license, or else how are they going to prove that they stand to inherit what you have specified? You can save your husband or wife the rigmarole of applying for a new marriage license simply by keeping a copy in a safe place and letting them know where to find it. Similarly, divorce papers (a decree or judgment) are equally important as they facilitate the settlement of property, child support and alimony, as well as the fair division of retirement accounts, investments and other assets.
You may also want to arrange:
 A comprehensive distribution list detailing all settlements to be made, including corresponding bank account numbers.
 A copy of any child-support payment orders. Make sure it is the most recent, because, even after your death, you will be required to assist your ex-spouse in raising your children.
 Copies of any life insurance policies that might benefit your children.
 A copy of the Qualified Domestic-Relations Order, which enables your spouse to receive a fair portion of your retirement account.
A Final Note:
Making the necessary arrangements and preparations with the aid of your financial advisor ensures that the family you leave behind is taken care of swiftly and without any hassle. It is the final gesture of complete love and devotion and one that your children and grandchildren will hopefully learn from and pass on.