In the event of your death, many important tasks need to be accomplished by the person you have named to serve as executor of your Will. Some things should be done right away, while other steps in the estate administration process are less time sensitive. Overall, your executor needs to collect the assets, pay debts, and make distributions in accordance with the provisions of your Will. The executor’s role can be made much easier if you provided them with some basic information and location of certain items during your lifetime:
Contact Information for Trusted Professionals.
Your executor should have the contact information for your accountant, financial advisor, insurance agent, and estate planning attorney.
How to Access Your Home.
Of course, your executor will need to know how to get into your home, so make sure to tell your executor where to find the key or pass code if you have electronic locks, together with the code to the home security system, if you have one. If you have a safe, the combination or code needs to be available to the executor, otherwise a locksmith will need to be called. You may not want to share passcodes or safe combinations with your executor during your lifetime, but you should provide guidance to your executor on how to gain access if you were to die.
A Trusted Vendor List.
Who do you rely on to keep your home running smoothly? It may be yourself, but if you have outside help, consider providing your executor with a list of names and contact information of trusted contractors. This “vendor list” can be basic or detailed. For example, a landscaper can keep the grass cut to make sure the house does not appear vacant. Another contractor can clear snow and ice during the winter months. A trusted handyman can help your executor prepare your home for sale. Even the name of your electrician, plumber, and heating/air conditioning contractor can be helpful.
Pets.
Do you have any pets? If so, be sure to let your executor know so they can make sure they are okay. If you know, let your executor who will adopt or care for your pets.
Homeowner’s and Automobile Insurance Information.
One important duty of your executor is to preserve the assets in your estate, and a way to do that is to maintain insurance coverage on your home and automobile. Easy access to policy numbers and contact information for your insurance agent will be helpful to your executor. If your home is vacant, the policy likely requires that notice be provided to the insurance company. If they are not provided with notice, they may decline to cover a claim in the event of an incident.
Motor Vehicle Title.
Your executor will need the vehicle title to sell your car. If not found, a duplicate title can be ordered from the Pennsylvania Department of Transportation, Bureau of Motor Vehicles, but that can take some time and will result in a delay for your executor.
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Disclaimer: We recommend that you receive ongoing legal advice from an elder law attorney before attempting to navigate the Medicaid application process. If you have questions or wish to secure our services, please contact us.
