This document serves as a centralized repository for critical information intended to be accessed by designated individuals in the event of the author’s incapacitation or death. It typically includes details such as financial accounts, legal documents, insurance policies, digital assets, and contact information for key advisors. A hypothetical example might encompass a detailed listing of bank accounts, passwords for online services, and the location of important documents like wills and deeds.
The creation and maintenance of such a resource offers significant advantages, including streamlining the estate settlement process, minimizing confusion and stress for loved ones during a difficult time, and ensuring that assets are managed according to the author’s wishes. Historically, these arrangements often involved physical documents stored in a secure location. However, contemporary versions frequently incorporate digital platforms and secure cloud storage to facilitate accessibility and ease of updating.