Retirement Daily Learning Center: Critical Conversations with Your Family - Six Steps You Must Take to Share Critical Information with Your Family

Robert Powell, CFP®

Bob Mauterstock, CFP, co-founder of the Online Elder Planning Specialist program at Salem State University, describes in this on-demand webinar the six steps you must take to share critical information with your family.

Here's a summary of what you'll learn in the webinar:

Create a Primary Source Reference Book

According to Mauterstock, the following items should be included in what he describes as a Lifefolio:

■ Investments (where located, account info, ownership)

■ Insurance (where are policies? Check beneficiaries)

■ Legal Documents

■ Professional Advisors (contact information)

■ Passports

■ Vehicle Titles

■ Mortgage documents

■ Safe Deposit Keys

■ Internet links (URL address, username, password)

Keep Your Legal Documents Up to Date

According to Mauterstock, the following documents should be kept up to date:

• Durable Power of Attorney

• Health Care Proxy

• Will

• Beneficiary Statements


• HIPAA Form 

Create a Long-Term Care Plan

According to Mauterstock, creating a long-term plan involved asking the following questions:

- Where will you live?

- Who will take care of you?

- How will you pay for your care?

Create an End-of-life Plan

Mauterstocks recommends using the following resources to create an end-of-life plan:

• The Conversation Project,

• The Five Wishes,

• Cake,

• Hello The Game,

How Do You Want To Be Remembered?

Mauterstocks also recommends contemplating how you will want to be remembered. To do so, consider the following:

• Write a Legacy Letter

• Create an Audio or Video

• Find a Personal Historian

Hold a Family Meeting

And lastly, Mauterstock recommends holding a family to discuss end-of-life and legacy issues. To do so, consider, the following:

• Recruit an Independent Facilitator

• Include All Your Children

• Vote by Consensus

• Share Your Plan 


Learning Center