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Cleaning your financial house for future generations

There is a sizable checklist of "things to do" for many estate planners that ranges widely from will/trust execution and heir/beneficiary designations to inheritances and health care-related instructions.

In almost all cases, say multiple commentators in a recent article focused upon financial management in the estate planning realm, that bulleted list should also have this item highlighted: death cleaning.

That's quite a jolt-ridden term, we know, but at its core it simply means cleaning up one's financial house a bit in anticipation of the day when heirs must open its doors en route to closing an estate.

That house -- that is, the totality of financial accounts, documents, contact information and related records -- can be either relatively tidy and easy for heirs to walk through … or it can be a complete mess.

And as the above-cited article stresses, what heirs confront is something that is largely determinable well in advance by an estate planner.

It is certainly no secret that some financial decluttering is necessary for most people as they advance in years. As the financial publication NerdWallet notes, "Simplifying and organizing our financial lives can make things easier for us while we're alive and for our survivors when we're not."

Candidly, a planner can do a lot to timely clean up finances in a way that will be both personally beneficial and highly helpful to future generations impacted by estate administration. NerdWallet suggests a number of steps that can be taken to promote the process.

An experienced estate planning lawyer who is well versed in elder law considerations can also offer candid and on-point advice to individuals seeking to make things easier for heirs and loved ones.

Providing for future generations is a loving act and gift bestowed by an estate planner on those who he or she most cares for. It is rendered even more valuable when those people can receive it in simple and unfettered fashion.

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