"Life's Final Documents"

[Minnymouth]

CONTINUED

SOCIAL SECURITY CARD

Now, everyone has a social security card from the day they are born..... it's the governments way of identifying us thru our lifetime.

Its not considered a form of indentification....... but many things in our lives cannot be done without a copy of it and usually the original has to be produced.

You have to have a Social Security Card for the following:

School regristration
auto/drivers liscense
marriage liscence
employment
cashing checks
insurance forms/claims
medical forms and doctor records
claims at retirement and retirement benefits
Social Security benefits
legal matters (including bankruptcy)

REGARDING SOCIAL SECURITY - VERY IMPORTANT

If you are under 18 your parents or guardian has access to your Social Security records. After the age of 18 NO ONE HAS AUTHORIZED ACCESS unless they are your guardian.

Social Security Departments DO NOT RECOGNIZE Power of Attorney papers or even Court Ordered papers unless you have been appointed a Guardian or Executor of Estate. (I ran into this problem when my mom had strokes.)

I had to set up a 3-way conversation with Social Security Office, my mom had to "grunt into the phone" as giving her permission for them to discuss her Social Security business with me (a daughter with POA papers). And I had to have notarized papers (from Social Security) that she "x" giving me permission to discuss her affairs with them............. You don't think that didn't cause some problems getting her care................ My hands were tied for days..............

I ran into the same problem accessing medical records and care at hospital and rehab unit.

So folks, if you don't do anything else, go to the Social Security office in your area, take your spouse, parents, and have someone else's name listed as a contact person on their records. This way THAT PERSON can discuss their affairs with the Social Security Office..... Don't run into the major problems that I encountered.

Had I known, I would have taken care of that necessity also.

TO BE CONTINUED

[Minnymouth]

CONTINUED

LIST OF ALL CREDITORS

Just like bankruptcy, in the event of a death, there needs to be a complete list of all creditors and debts. After death even more debts come rolling in. These need to be together as much as possbile for the Executor of the Estate to go over. It will be his responsibility to handle financial affairs. If a will is not in place, an executor will be appointed by the Court to handle the final affairs. Often a spouse handles the final affairs if no executor is appointed.

By having a list of all the creditors and a approx balance owed to each, makes it a lot easier on who ever is handling the finances.

CONTINUED

[Minnymouth]

CONTINUED

INCOME TAX FORMS

Yes, unfortunately even after death, Uncle Sam still expects us to file a tax return (no end to it, huh)........ Guess they think we will take time to "sit up" and do this before we finally lay down!!

Whoever handles your final affairs has to file an income tax form for the year that you die in. So they will need access to your previous income tax forms. Be sure there is a note on where to find these documents.

CONTINUED

[Minnymouth]

CONTINUED

AUTO TITLES, AUTO INSURANCE, ETC

After our death, whoever is handling our estates needs the original auto titles to be able to sell, or transfer title to another person.....

They will need the insurance papers if you death was due to an auto accident or injuries from an auto accident.


CONTINUED

[Minnymouth]

CONTINUED

MORTGAGES AND DEEDS

Copies of your home mortgage and deeds need to be available to the person handling your final affairs. They will need these if it is necessary to transfer property to heirs, sell property etc. And usually these documents are mentioned in your Last Will and Testament as to where they go..... ad to whom.....

CONTINUED

[Minnymouth]

CONTINUED

LIST OF ACCOUNT NUMBERS

In the event of death, the executor needs a copy of or a list of the following type of accounts:

checking accounts
savings accounts
stocks
bonds
safety deposit box/key (where key is)
401k retirement funds
trust funds
value of paintings
value of collections (guns, etc)

All of these type of accounts will normally be closed, cashed, transfered, etc if there is "no spouse"....

If a spouse survives, they usually have "survivorship" or are listed on these accounts also... and they usually deal with these.

CONTINUED

[Minnymouth]

CONTINUED

"SURVIVORSHIP"

Often someone is married and their spouse survives them...... Often the spouse maintains survivorship of everything..... then the spouse usually handles all affairs also with the permission of the Court.

When a person is single or no spouse living is when usually an Executor is appointed.

Never in our lifetimes would we imagine the paperwork involved in the death of someone..... you can't do "this" without "that"....... Your hands are tied!!!

BE KIND TO THOSE YOU LEAVE BEHIND AND LOVE..................

Think about all the paperwork they will need, and some afternoon, sit down and get your affairs in order for them.

Go thru it all, organize it, put it in a safe place, and tell someone where it is.........

Make sure the person you put in charge of your affairs will hopefully handle everything the way you wanted it done.

Your wishes don't have to be known till it's "time" (except maybe the Living Will and organ donor part).......

Make your final wishes KNOWN..... put it all in writing, documented. Then there will be "no doubt" about the way you wanted it.



Protect your assets and your children!!!

And after all this is in place, you will sleep a lot better at nite......

Hope this helps some of you!!!!

I gave it my best "shot" - CAUSE I'VE BEEN THERE AND DONE IT!!!!



PS.
Anything that any of your can add to this, feel free too........

[bkbiker]

Very good info minny, your services and advice are much appreciated.

For those that are interested, Suze Orman has a great will and trust kit that you can buy from her web-site for like $13.50 (she says that you may share this program with all your family and friends also) she walks you through all the process, in a few hours I had my Will, Power of Attorney, Power of Attorney for Health Care, and my Living Revocable Trust. I had two friends accompany me to my bank to have all the documents notarized for free. I also got the program for free, so my total cost was just the printing from my computer.

Minny has already stressed how important it is to have a Will and I can concur.

Take care,
bkbiker

[krobin02]

This should be a sticky so that everyone has easy access to this awesome collection of information even after posts stop being made to this thread. Just a suggestion.

[Minnymouth]

For those that might have missed this or newbies I made this a "sticky"......

Remember bankruptcy is important in your life, and so are MANY OTHER THINGS.....

Get your paperwork in order, protect you and your family, and make it easier on everyone.......

No one lives forever and some leave us sooner than they intended too.......

[Minnymouth]

Just a bumpup for all the newbies to see and read......
Very important information for your future.....

[guzzie]

great post!!!