Understand Vital Parts Of The Estate Planning Process

Friday, September 4, 2009, AM | Leave Comment

Understanding vital parts of the estate planning process consists of compiling personal information regarding your assets, and advisers.

Search for an Estate Plan Organizer (EPO) in your favorite search engine. This will help you assemble and store your personal and financial information.

A typical EPO can be used to store, and later amend, key personal and financial information that may be required as you complete your personal estate planning.

By entering information in a typical EPO, it is important for you to understand the following and more importantly your responsibilities:

  • You are solely responsible for the accuracy of the information you input into the Organizer.

  • The Organizer is intended to provide you with a tool to help you assemble your personal estate planning information. It should not be used as your exclusive tool for this purpose, and your personal circumstances may require additional information not captured or stored by this tool.

  • Make sure that your information will not be used to update any information the company currently has on file about you or your accounts, such as your address, Social Security number, or beneficiary information.

  • You acknowledge that the information stored in the Organizer may not be accessible to your personal representative after your death and you may wish to provide a printout of this information to your advisers from time to time.

In a Nutshell
Estate Plan Organizer (EPO) is a tool that can help organize your data about estate planning. You have to make the decisions what goes in, what to store and what date to amend. It is just a database to store what you enter in it.

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