Confronting one's own death is hardly a cheerful task, yet doing so relieves your surviving relatives of a considerable burden. An estate folder is an essential element of succession planning and helps the bereaved to find their way in the event of a loved one's death.
The estate folder should contain all important documents and information required for the administration of the estate. We have compiled a "to-do list" of the most important points to consider when creating your estate folder.
When preparing an estate folder, the following sections should be addressed:
1. Obituaries and notifications
• Form and place of the obituary notice
• Quotation or poem
2. List of names and addresses of all friends, relatives and acquaintances
• Including telephone numbers, if they are to be notified personally
3. Funeral wishes
• Type of burial and place of interment
• Funeral insurance policy (if any has been taken out)
• Songs, Bible passages or poems
4. Copy of the will
• A note indicating where the original is kept
5. Important documents
• Birth certificate (depending on age and personal preference, also those of your children)
• Marriage certificate
• Death certificates of close relatives and/or the spouse
• Copy of the identity card
• Contracts and obligations
• It is also useful in other situations to store these documents digitally
6. Addresses and telephone numbers of the heirs
7. Copies of general powers of attorney
• Ideally, deposit certified copies of any powers of attorney that are intended to remain effective beyond your death
8. Most recent income tax assessment notice
• Once income exceeds the basic tax-free allowance (Grundfreibetrag), the heirs must file an income tax return on behalf of the deceased for the year of death
9. Bank accounts, securities accounts and safe deposit boxes
• An overview of all banking relationships, accounts, securities accounts, online access credentials and potential contact persons, including their telephone numbers and email addresses
• A note on the type of account and its purpose
10. Insurance policies, including health insurance
• An overview of all existing insurance policies, including policy numbers and contact persons
• Deposit the policies themselves
11. Dissolution of the household
• Provisions on the whereabouts of specific items that may give rise to potential conflicts
12. Passwords
• Deposit of the relevant access credentials
The head of the inheritance law department at our firm is attorney Ms Julia Gerstein-Thole.
