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Personal:
your parents' estate
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Dear Mom and Dad, where are all of your assets and money?
Do you dare ask that question? How often have you discussed with your spouse or siblings how the situation would be handled if your parents fell ill or died? You know what should be discussed with your parents; like drawing up a living will and power of attorney, but who is actually going to have that discussion?
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You can begin by asking what they would like to accomplish with their estate. Do they want to give to needy friend or favorite charities? Put in this context, estate planning is seen as less morbid and more realistic.
Whatever is done, the need is always there to identify assets and inform someone as to where they are. Often parents, for a variety of reasons, do not want to tell their children how much money they have, where it is, or how to get to it. On the other hand, seniors will often tell a stranger intimate information about themselves that they would not tell their children. Strange, but true.
This is where Organize Your Estate can be of assistance.
Having seniors on our staff, we can relate to their concerns. The situation is no longer seen as judgmental or self serving. We will attempt to:
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Locate any actual stock certificates. |
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Determine if anything, such as jewelry, has been hidden; and if so where it can be found. |
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Find legal documents such as the will, trusts, etc. |
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Discover any promises to charities or people. |
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It is difficult to discuss what will happen, but with advance planning and preparation, the situation can be handled in a professional and respectful manner.
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