5 Real Estate Documents Your Children Will Need After You Pass Away
Planning ahead for what happens at the end-of-life shouldn't involve frantic last minute searches for information that someone in your family will need, and want, after you are gone. It's so much easier if you take some time now to plan ahead.
One of the biggest items to plan for is what happens to your real estate.
Unless you want to send your loved ones on a wild goose chase looking for documents, keys, and other assorted valuable information that you’ve stored in a variety of places, getting your real estate assets organized for them now will be appreciated in the future.
Starting with the basics, the following are the five most important groups of documents you should gather in one place so that your children and/or other loved ones are able to easily access them in the event of your passing. At the very least, write down the precise locations of these items to avoid a scavenger hunt later on.
1. Land and Property Deeds
- Address and location of any keys
- Maintenance providers’ contact information
- Title of property (joint or individual)
- Location of original deed and other relevant documents
- Title insurance document
- Property easements and locations of documents
- Current estimated value
2. Rental Agreements and Leases
- Rental property location and landlord contact information
- Location of rental agreement document and location of key to property
- Information on any property you own and rent to others
- List property location and lessee contact information
- Location of rental property agreement and location of keys to rental property
3. Mortgage Papers
- Mortgage company and contact information
- Location of original document
- Paperwork showing balance of Mortgage
4. Utility Company Information
- Oil company and contact information
- Oil tank refuel access location
- Prepaid oil contract details
- Gas/electric company(s) and contact information
5. Alarm/Security System Information
- Security company and contact information
- Alarm code or alarm password
Getting the information about your real estate assets in order is one of the biggest gifts you can give to your loved ones after you are gone.
Would you like a place to keep track of and organize this kind of information? LastingMatters provides an easy, affordable and comprehensive way to document and organize your personal wishes and intentions related to end-of-life planning and planning for death, helping to ensure peace of mind for your loved ones.