Investopedia: “While many of us like to think that we’re immortal, the old joke is that only two things in life are for sure: death and taxes. Not only is it important that you have a plan in place in the unlikely event of your death, but you must also implement your plan and make sure others know about it and understand your wishes – as Benjamin Franklin’s famous quote goes, “by failing to prepare, you are preparing to fail”. If you’ve procrastinated on your estate planning, this article will help you get going in the right direction.
Must Do No.1: Physical Items Inventory
To start things out, go through the inside and outside of your home and make a list of all items worth $100 or more. Examples include the home itself, television sets, jewelry, collectibles, vehicles, guns, computers/laptops, lawn mower, power tools and so on.”