After putting all the elements of the estate plan in place, what’s next? The final, and almost always overlooked step, is a Red File. A Red File is a roadmap containing critical information to guide the family through a loved one’s incapacity, estate administration, business succession, and creation or continuation of a lasting legacy. The Red File covers the items missing from even the most carefully crafted legal documents, such as key contacts, passwords, caregiving wishes, and heartfelt reflections.
The Blum Firm’s Red File Checklist available here
Slide Deck here: Marvin Blum at the Midland-Odessa Business & Estate Council on February 14, 2023, for “A Red File- Putting a Bow on Top of Your Estate Plan”
Slide Deck here: Marvin Blum at the Lion Street Trusted Advisors Conference on July 13, 2021, for “The Final Wrap Up – A Red File. Putting a Bow on Top of Your Estate Plan”