I found the Fidelity Net Worth tool using the recommended “history” method. I then promptly deleted my search history, since I needed to clear the cache anyway.
Interestingly, after entering various tangible and intangible assets using the Fidelity Tool, they break everything down into 4 categories:
Cash Equivalents
Investments
Real Estate
Other (vehicles, art, jewelry, antiques, etc.)
One might wonder what would be a “typical” asset mix for someone at the time of their retirement (or death). I’m sure that one’s Executor, Trust Asset Manager, Heirs, Beneficiaries, Charities, and Tax Collector would be interested in knowing.
I think I’ll send a copy of the list to the attorney listed as my Executor. It should be helpful if DW finds herself on her own.
One important detail not included in the Fidelity Net Worth tool is a link to an inventory of Long Term Care and Life Insurance policies (whole life, universal life, term life, etc.).
Otherwise, it’s a really easy tool to use. Their template is nice.
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One important detail not included in the Fidelity Net Worth tool is a link to an inventory of Long Term Care and Life Insurance policies (whole life, universal life, term life, etc.).
Once I started traveling to England for business I created an “in case of emergency” letter for the wife and put it in the fire-proof safe where she knew where it was. Listed all accounts we have. Listed all life insurance policies, amounts, and how to find them. How to find passwords. Listed how to get ahold of my employer (important since over half the life insurance is provided by them). Also, every account that can accept a primary and secondary beneficiary is properly setup as such. Wife 100% primary, daughter 100% secondary. This makes life much easier.
I highly recommend this to people. DO NOT MAKE YOUR HEIRS FIND THIS STUFF ON THEIR OWN.. Would be better as a will, of course. Reminder to me.
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I highly recommend this to people. DO NOT MAKE YOUR HEIRS FIND THIS STUFF ON THEIR OWN… Would be better as a will, of course. Reminder to me.
Typically you don’t put the location of documents, phone numbers, and passwords,etc. in a Last Will & Testament. Those details go in the “Letter of Instruction” that you attach to the will.
You don’t want to have to hire a lawyer to change the will if you change a password or buy a new safe with a different combination.
intercst
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DO NOT MAKE YOUR HEIRS FIND THIS STUFF ON THEIR OWN…
I had to do that for Dad’s estate and it was not fun.
We have an envelope with page one of a statement from each active account, including insurance bills and a list of Ibonds. Make sure that statement has contact info, and don’t forget to swap out the old statement page for the new when you change brokerages.
IP
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Hi notehound,
For those of us that use the services of Fidelity, this service is free.
https://www.fidsafe.com
I haven’t used it as we have instructed our heirs as to where the original documents are stored in our home as well as having multiple digital backups of all of our important documents. They have all of the information needed if we get hit by a truck tomorrow. (I hope!)
'38Packard
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I thought about using FidSafe but I’m a little nervous about having all the keys to the kingdom in one place. A scammer broke into my friend’s Fidelity account (unfortunately, his wife fell for the scam) and within minutes had lost $20,000 which Fidelity would not reimburse. If they were able to break into FidSafe they would get asset lists from other brokerages and banks, too.
I keep my list of assets on a flash drive which is in my safe deposit box in the bank. I back up onto a similar flash drive and swap the drives every few months.
Wendy
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