Red File; Do you know what it is and do you have one?
Without careful planning, the time after you pass can be incredibly stressful for your loved ones. There is a lot of work to do and one of the most undervalued items is often your Red File. This could include burial information, location of estate planning documents and your lawyer, safety deposit box location, location of all accounts and passwords, and other relevant information. Usually this file should include comprehensive personal information which has been updated regularly. This file should also be kept in a safe location. Without this, your heirs will need to obtain a court order to access your important information, including access to your smart phone accounts, social media accounts, etc.
-Emily A. Helmick, Esq.