Help Your Parents Organize Their Finances Using a Next of Kin Planner

Wealth • May 20, 2025

If you are the adult child of boomer parents and you know you’ll be the one handling everything when they pass, helping them get their financial house in order now and having them fill out a Next of Kin Planner isn’t just helpful, its a gift to your future self.

According to Schwab’s 2024 Modern Wealth Surveyonly 36% of Americans have a written financial plan. Unless your parents are part of this financially savvy cohort, you will most likely be sifting, sorting and trying to make sense of their financial ecosystem when they pass.

This is where having a Next of Kin Planner in place comes in.

It not only helps simplify and streamline the process, but also gives you (and them) peace of mind during a time of grief and transition.


What Is a Next of Kin Planner?

It’s a simple, shared Google Sheet between you and your parent(s) that lists out all:

  • Checking, Savings, CDs, Money Market Accounts
  • Retirement & Investments Accounts
  • Real Estate & Other assets
  • Auto Loans, Credit Cards, Mortgages, Other Loans
  • Life Insurance Policies
  • Key Contacts Info (CPA, Financial Planner/Advisor, lawyer, Lawyer, Power of Attorney, Will Executor)
  • Optional: help them secure their financial ecosystem following the steps outlined in this blog post: How to Protect Your Identity (& Money)

Think of this planner as a blueprint of your parents’ financial ecosystem.

It will help you carry out their wishes without guessing, digging through paperwork, or unraveling years of disorganization.


Why This Next of Kin Planner Matters for You

1. It Creates Mental Freedom During a Time of Grief
Losing a parent is already hard enough. The last thing you need on top of grief is to be thrown into financial detective work – tracking down accounts, figuring out passwords, or untangling unpaid bills.

2. It Can Prevent Family Conflict and Legal Headaches
Having clarity helps everyone in the family stay on the same page. When financial information is scattered (or missing), it can lead to confusion, conflict, or even legal issues between siblings and family members.

3. It Protects Your Time, Energy, and Sanity
It can take months or even years to sort through your parents finances and officially close their estate once they’ve passed. Having the Next of Kin Planner ready to go streamlines and expedites that process so you can focus cherishing memories and celebrating their life

4. It Makes Sure Nothing Important Falls Through the Cracks
From unclaimed retirement accounts to unknown debts, the things your parents forget to mention can come back to bite you. This Next of Kin Planner helps make sure everything is accounted for and in one place.


How to Talk to Your Parents About It

Don’t make it weird. It can be as simple as saying:

“I know this isn’t fun to talk about, but if something ever happened to you, I’d be the one trying to figure everything out. Can we go through and fill out this planner together so I’m not left guessing where to find things later?”

Or

“I recently filled out a Next of Kin Planner” for “insert kids names” so they know exactly where to find to our financial accounts and documents if I/we unexpectedly pass. It would be super helpful to have this for you as well. Can we go through and fill out this planner together so I’m not left guessing where to find things later?”

Position it as way to help them get their financial house in order (and potentially find them more income/savings).

I can’t tell you how many times I help people find thousands of dollars in missed income – like a lump sum of money sitting in a savings account that is earning .01% interest when it could be earning 4% interest.

Talk about a missed income opportunity.


Grab Your Free Copy of my Next of Kin Planner

I created a simple Google Sheet that allows them to document every aspect of their financial ecosystem in one place for you to have as easy reference. Easy to use, no financial background required. You can even help them fill it out together.


Why it Matters

Helping your parents get their financial life in order isn’t just responsible, it’s compassionate. And the Next of Kin Planner in place gives you clarity during one of the hardest times in your life.

It not only protects their legacy and but saves you from unnecessary stress, chaos, and overwhelm.

Grab your free copy of this planner. Make a copy for your parents and another copy for you (for your kids to have in case something unexpected happens to you).

Your future self will thank you.

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