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US stock market daily report (July 15, 2014, Tuesday)

July 16, 2014, Wednesday, 05:13 GMT | 00:13 EST | 09:43 IST | 12:13 SGT
Contributed by Millennium Traders


No one likes to talk about death or preparing for ones death. Out of respect for those who will be left behind in the event of your death, preparation for your death could be life saving for those you leave behind. Preparation for ones death can also prevent delays for inheritors and reduce legal fees for loved ones.

Its actually very simple to prepare for your own death - get your paperwork in order. In the day of technology, paperwork could be as simple as a folder on ones desktop entitled, 'DEATH'. While the theory is simple, preparation of what is entailed in that desktop folder, will be time consuming. While it takes one time now, it will save endless time and aggravation of those left behind who have to step in to clear up, what you leave behind. Its the courtesy of keeping things in order for those who have to clean up your life on earth.

In the desktop folder you want to include everything needed for your heirs to settle your estate. Start with your Social Security benefit information. You want to provide details of all personal bank accounts, business bank accounts, investment accounts and legal contracts you have including access information or login information for online accounts. You should include name, address and phone number for bank accounts. Provide the name, address and phone number of your attorney who has your last will and testament. Location where you have property deeds in your name. Location of life insurance policies. Create a list of your creditors and utility companies including your account number. Where they should look for your tax returns - include your accountant name, address and phone number. For all information you provide, its a really good idea to provide phone numbers and contact names of individuals you normally deal with, to reduce the stress of your executor. If you have a safety deposit box or a safe - someone needs to be made aware of this information and how to access it. If you stash valuables or cash somewhere - to avoid them from falling into 'file 13' - include that in your secure 'DEATH' folder.

Any car or motor vehicle you have, you need to include where car insurance is and where titles and keys are.

How about a list of relatives and friends - names and phone numbers - of those you wish contacted of your passing. Everyone 'should' have a secure list of login information for their personal computer. The access code to the folder containing sensitive information should be provided to ones attorney.

Should you fail to prepare those left behind of your final wishes, they won't know what to do on your behalf. You don't want those you leave behind, forced to put your estate into probate, which is when the state determines the distribution of your assets which can take up to a year and eat up nearly 5% of your estate.

You might want to start a list of things you have and organize them in your 'folder'. Organization is the key to a successful preparation. Do a Google Inc. (GOOG-Nasdaq) search for 'prepare for death' for additional suggestions to make your preparation less stressful.

Did you know there are websites on the Internet that will allow you to schedule emails to be delivered after your death? They are a great way to say things to those you leave behind, things you might not have said to individuals, when you were alive.

Above all, it is important to tell your potential executor, your loved ones and your attorney that you have prepared for 'DEATH'. Tell them where to find what they need, when the time arises. You don't want to share the information with everyone, just those on a 'need to know' basis.

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