Next of Kin (NOK) Planning System
Creating an organized system to help your Next of Kin (NOK) manage your affairs after you've passed away is both a practical and considerate gesture. Here are some steps you can take to ensure that your NOK can easily access important information and documents without having to embark on a "scavenger hunt":
Step 1: Identify Your Next of Kin or Executor
Choose someone you trust implicitly to be your NOK or executor.
Discuss your wishes with them and make sure they are willing to take on the role.
Step 2: Make a Comprehensive List
Prepare a list of all important files, accounts, and belongings, along with instructions on how to access or find them.
Step 3: Centralize Important Physical Documents
Use a fireproof safe or a safety deposit box to store original important documents like your will, property deeds, and life insurance policies.
Step 4: Digital Organization
Password Management: Use a secure password manager to store all your passwords and share the master password with your NOK.
Digital Inventory: Create an inventory of your digital accounts, including social media, online banking, and other services.
Digital Estate Plan: Legal documents can specify what should happen to your digital assets and online accounts after your passing.
Step 5: Contacts List
Compile a list of important contacts (lawyer, accountant, etc.) that your NOK may need to get in touch with.
Step 6: Medical Records and Preferences
Store medical history and any end-of-life wishes or DNRs (Do Not Resuscitate orders) in a known location.
Step 7: Financial Overview
Create a financial profile outlining bank accounts, investment accounts, debts, and other assets.
Step 8: Personal Belongings
Prepare a list of your significant personal belongings and who they should go to.
Step 9: Instructions and Personal Notes
Include any specific wishes, advice, or messages you want to leave for your loved ones.
Step 10: Inform Your NOK
Make sure your NOK knows where to find all this information. Consider sharing a document that outlines where everything is stored, but avoid sending sensitive information via insecure methods.
Step 11: Legalize Your Arrangements
Consult a lawyer to ensure that all your plans are consistent with the law, particularly your will and any financial or medical directives.
Step 12: Regular Updates
Review and update this information at least annually or after significant life changes.
By carefully organizing these elements and clearly communicating their locations to your Next of Kin, you can help ease the burden they might otherwise face during an already challenging time.
Contact Us Today
To schedule your NOK consultation, call Attorney Tom Kirkbride at 678-719-0331 or visit our website at www.kirkbridelaw.com.
Let us help you achieve peace of mind for you and your loved ones.