I have been meaning to organize my records and personal information for my wife, just in case something happens to me. I think this is one of the most important financial tasks that any individual, retired or otherwise, should tackle—spelling out “last instructions” if you become incapacitated or die. I assume you already have an estate plan with all the necessary documents (a will, power of attorney, etc.). And if you’re comfortable with Excel, you can easily create files that list accounts, investments, contacts, etc. But again, that’s the point: You need to get your instructions and information down on paper.

Source: Wall Street Journal October 03, 2020 04:07 UTC