I know it’s no fun to think about this topic, but you are going to leave a legacy when you leave here. For better or worse, you will leave a legacy. I am going to use the next few blogs to cover topics you need to address as a part of your estate plan. If you have a Last Will & Testament in place, that’s great. Look at this blog and the next few as reminders of other steps you need to take.

If you have any debts when you die, be sure that you leave a wide paper trail. You don’t want a debt collector to show up at your son or daughter’s house six months after you pass away, looking for a payment on a debt that he or she didn’t even know existed.

The existence of debt, especially for a senior citizen, can be an embarrassment. I understand that. But how much worse would it be to saddle your children with debt that they had to work to discover. Suppose they spent hours rummaging through your old, musty papers, hoping to find a personal memento – something to remember you by – when they find documents which reveal that you owe thousands in an old debt, perhaps an old tax bill or a bad credit card. They will remember you all right. . .

Don’t let things get out of hand. Keep one, simple location for all of your debts. Hopefully you won’t have any debts. If you do, however, be clear about them. Show your family you cared enough to put the information where they could locate it.