What Information Should You Leave for Your Executor?

An executor may know the family well and still know very little about the property they will need to administer. They may not know which bank holds the savings account, whether there is an insurance policy, or where the original will is stored.

A useful information file can help close that gap. It does not replace legal documents, but it can help the person find them.

Start with the documents and people

Record where the signed will, trust documents, and related amendments are kept. Include contact information for the attorney, accountant, financial institutions, and anyone else who regularly helps with the property.

If someone else holds the original will, identify that person. Iowa law requires a custodian to deliver the will to the appropriate court after learning of the death. A note saying “the will is somewhere in the house” leaves much more work than an accurate location.

Describe what exists

A list of banks, retirement plans, insurance companies, real estate, vehicles, and business interests can be useful even if balances change. Include enough identifying information to locate the account while keeping the file secure.

Ownership matters as much as existence. Note whether property is held individually, jointly, or through a trust, and where current beneficiary information can be obtained. Do not assume every item on the list will belong to the probate estate.

Include obligations and ongoing needs

Mortgages, loans, regular bills, property insurance, and maintenance contacts can help explain what needs attention. A house may need heat, security, or upkeep while the estate is being handled.

Iowa Code section 633.351 describes responsibilities for safeguarding estate property and addressing related expenses during administration. Useful records make it easier to identify those responsibilities; they do not give someone authority to act before the applicable legal requirements are satisfied.

Keep access separate from authority

Knowing a password or finding a key is not the same thing as having legal permission to use an account or transfer property. Digital access arrangements should be considered with the estate plan rather than treated as a substitute for it.

Review the file when an account closes, property is sold, or a professional contact changes. The most helpful record is one that points the executor toward reliable information without requiring them to guess which parts are still accurate.

Tyler ThompsonAuthor