Why You Should Create a “When I Die” Binder

From lost wills to undocumented assets, estate chaos is more common than you think. In this clip, Dave and Leanne discuss how a simple “When I Die” binder can make all the difference.

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We’re going through all the challenges here that can arise.

Let me talk about a couple others.

People die and nobody can find the will or they find a will, and they’re not sure it’s the most recent or they find a will, but there’s no accompanying net worth statement laying out where all the assets are and how to get at them, and so on and so forth. You know how hard I advocate for full information on that front.

I’m a big believer that people have to tell their executor, their family members, here’s the most recent will. This is how to find it. Here’s my net worth statement. Here are the pertinent details, et cetera. I’m very pushy on that front. Do you not think that would solve a lot of the problems we run into?

Oh my goodness. One of my colleagues told me many years ago that the greatest gift his father-in-law left his children, was a very well organized when I die binder. So, I mean, that’s exactly what you’re saying. A good old fashioned binder. There’s nothing wrong with it. Right. And or, uh, one of those accordion folders or something like that with copies.

But I know, I know this will probably come up, um, because I’ve heard you talk about it as well, but don’t forget all the digital stuff because not everything has a paper copy.

You know, one of the things that I definitely have seen in real life, not make its way into the knowledge base of the executors is private company shares. As you know, they’re often not documented. They’re not in an account per se, and so you have to find the share certificate or the original transaction details, and that sometimes slips between the cracks.