No matter the time of year, we are all concerned with sprucing up and organizing our houses. But what about tidying your “legal house?”
Here are some ways organizing your house now can benefit your loved ones in the future.
1. Clean Out Your Clutter
Cleaning out your closets can benefit more than just your living space. It will lessen the burden on your family when the time comes to comb through “all that stuff.” If we clean out our clutter, our family is spared that extra emotional pull at an already difficult time.
2. Start Gifting Heirlooms Now
While you’re at it, go ahead and gift those precious items to the family and friends who will ultimately receive them anyway. This lessens the chance that the item gets lost or is not distributed properly.
3. Or, At the Very Least, Organize Your Heirlooms
If you’re not ready to gift those family heirlooms, label them or make a list of who is ultimately to get them. Lists outside of wills are not enforceable in Texas, but in reality, most families will honor them so long as the distribution is equitable. Spare the kids from arguing over who gets what; you have already made that decision.
4. Consolidate Bank Accounts
If you have many bank accounts, consolidate them. Fewer accounts to deal with will make everything easier for those left behind. Make sure all of your bank accounts have “rights of survivorship” (if they are jointly owned), or “payable on death” beneficiary designations (if they are owned by only you).
5. Store Documents in a Safe Place
Make sure your will, powers of attorney, and lists of assets and contacts are easily discoverable. Unfortunately, documents in safety deposit boxes can be lost when the family doesn’t know where the box is, or have access to it. A home safe is a better choice. Keep the key or combination somewhere that your loved ones can easily find one day.
Get Help with Estate Planning From Hammerle Finley Law Firm
While our team of expert attorneys can’t help you clean and organize your home, we can help with ensuring your estate plan is in order. If you or a loved one need assistance with estate planning, schedule a consultation today.
Happy organizing!
Kendra Rey is an attorney at Hammerle Finley Law Firm, a boutique law firm offering services in estate planning, probate, guardianship, business law, litigation, and real estate. Contact her at (972) 436-9300.
This article does not constitute as legal advice.
