Thinking about your own mortality is no fun. Personally, it’s not something I often consider. I’m usually too busy trying to figure out how to live the most extraordinary life possible.
However, estate planning has been on my mind. My goal is to get everything in order just in case something happens to me. That way, I can rest assured that even if the worst happens, I know my family will be taken care of.
In the event of your passing, have you considered how your family is supposed to get access to all of your files and documents?
All of your passwords are locked behind one master password. If you share this single password with a trusted family member, they’ll be able to gain access to all of your stored usernames and passwords.
I like to invest in multiple different types of investments. I have stock accounts, retirement accounts, 529s, crowdfunded investments, syndications, funds, and angel investments. So how do I keep all these documents in order?
Those go in the ICE Binder as well, but I also have a simple Excel spreadsheet that outlines what the different investments are, and I update this list every time I make an investment.
One of the best ways to ensure your family’s well-being in the event of your death is, of course, life insurance. I bought my first policy when my wife and I bought our first home, and then I purchased more term life insurance the moment I had my first child.