When preparing for the future, seniors and their families can follow this check-list to ensure their needs have been addressed.

• Finances
  • Make a list of all financial accounts and the locations of where the accounts are held.
  • List contact information for financial advisors. 
  • Consolidate some accounts as necessary. 
  • Verify the correct names of owners and permissions on each account. 
  • Review any pension and social security benefits. 
  • Assess whether existing income continues to meet current needs.
  • Streamline bill-paying with automatic or online payments if possible.
  • Verify beneficiary designations are consistent with estate plan.
  • Offer your Power of Attorney to your financial institutions

• Investments
  • Compile a list of investments like CDs, IRAs, annuities, stocks, real estate properties, or other investments. 
  • List contact information for entities that manage these investments.
  • Locate account numbers and original documents related to these assets.
  • Know the value of the investments.
  • Ensure these assets are titled correctly and consistent with legal documents.
  • Ask your investment companies if they have your Power of Attorney on file or if they their own paperwork for similar permissions.

• Insurance Policies
  • Identify all insurance policies like life insurance, health insurance, long-term care insurance, home and auto insurance, umbrella policies, and any other policies.
  • Locate copies of each policy.
  • Schedule a review with an insurance advisor to review policies and coverage.
  • Explore options for long-term care insurance.
  • Verify the beneficiaries for any policies with death benefits. 
  • Ensure a trusted person will receive notices of premium payments so that policies do not lapse.

• Living Arrangements
  • What are the current living arrangements?  Are these working?
  • Identify close friends, family members, spiritual advisers, or neighbors to build a stronger support network.
  • What are the plans for illness, disability, or death of a spouse or partner?
  • Is there money to pay for unfortunate health or other financial circumstances?
  • Are there caregiver agreements in place? Should there be?
  • What options are available if driving is no longer an option?
  • Compile a list of important professional and personal contacts and provide the list to trusted people.

• Legal Documents
  • Is there an updated Durable Power of Attorney for finances?
  • Is there an updated Health Care Power of Attorney with advance directives?
  • Are there updated estate planning documents like Wills or Trusts?
  • If there a trust, who are the trustees and beneficiaries and is the trust funded?
  • Where are the original legal documents? Who has copies? Who can legally access the originals?
  • Is the senior a Veteran? Where are any important military papers?
  • Review legal documents annually.

• Digital Assets/Access
  • List important online accounts and access to the accounts, smartphones, and computers. 
  • Identify the usernames or email addresses affiliated with these sites.
  • Keep this list in a secure location.

• Safe Storage
  • Save important documents in a fire-proof safe or a safe deposit box. 
  • Ensure a trusted person has access to these documents in case the senior is unable to access these documents.

• Other Important Documents
  • Keep a photocopy of important documents that you carry in your wallet, including photo ID, credit cards, Medicare card in a safe place in case of theft.
  • Let trusted people know where to locate passports, Social Security cards, and other important papers.

• Healthcare
  • Maintain a list of health providers and current medications.
  • Send updated Health Care Power of Attorney with advance directives to health care providers.
  • Compile a list of wishes for various medical scenarios.
  • Ensure health insurance and supplemental policies support the senior’s wishes.
  • Mobile seniors should keep a copy of these documents stored on a thumb drive in their vehicle or under the “emergency” tab of some smartphones in case of a health emergency while traveling.

• Trusted People
  • Make sure your trusted people who will serve as an Agent, Executor, or Trustee know and understand their role.
  • Make sure your loved ones, friends, and family members know that you have plans in place with key trusted people to act on your behalf.
  • Arm your trusted people with contact information for family, physicians, financial advisers, insurance agents, attorneys, and tax advisers.