If you are like most people, your life is complicated. There are a lot of moving parts, a lot of puzzle pieces. If you sometimes find it challenging to manage your own affairs just imagine how difficult it would be for your executor, guardian, or attorney-in-fact to do so. These “fiduciary” roles are often assigned to family members or close friends who have little or no information about your assets, your testamentary plan or the legal documents you have in place. The kindest and most responsible thing you can do for your loved ones is to leave them “a fiduciary roadmap” to help them find those puzzle pieces.
What is a Fiduciary Roadmap?
In order for your guardian or attorney-in-fact to manage your financial affairs should you become incapacitated, or for your executor to administer your estate upon your death, they will need knowledge of your assets and the ability to access certain legal documents. A fiduciary roadmap is something you leave your fiduciaries to help them do this. Because this is a highly personal process, the roadmap can take many forms and be provided in many different formats. To prepare a fiduciary roadmap, you will first need to get organized.