Colorado Estate Planning Blog

Tuesday, June 28, 2016

Spouse doesn't know finances

      Your surviving spouse will need to access money immediately to cover funeral expenses. There may also be hospital bills, and, of course, all of the normal expenses that come with everyday life. So that your spouse won’t have to search high and low trying to figure out where the accounts are located or how they can access money, you need to make sure your loved ones know where to find this information.

      Walk through all of your financial accounts with your spouse so they understand how to withdraw funds as needed. It’s also helpful to leave a few lists in a safe but easily accessible place:

  • A password list for all your online accounts and memberships
  • A list of all your accounts and memberships – both online and offline – along with any necessary instructions
  • A list of your estate planning documents and their location
  • A list of all lawyers, financial planners, accountants and others who worked with you

Sommers Law Group, LLC assists clients throughout Denver, Jefferson County, and Arapahoe County, Colorado.

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