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.