You may be uncomfortable at the thought of discussing your estate with your loved ones. But failing to do so could result in disagreements and conflicts when the details are revealed after your death.

Discussing your plans in advance gives you a chance to explain:

• The distribution of your estate.
• Why you made certain decisions.

You can also write a personal letter to some of your heirs that includes information about inheritances, special wishes, who should receive personal effects, your funeral preferences, and the location of important documents.

Among the information that your heirs should be able to easily locate:

• Income Tax Returns
• Life Insurance Policies
• Investment Documents
• A List of of Valuable Household Contents
• Outstanding Loan Documents
• Automobile Titles
• Bank Account Information
• Credit Card Details

Copyright: Thomas Reuters