A collection of documents to be used after your passing.
A Legacy Binder is where you store all of the documents that will be passed to your loved ones after you die. The main reason you want to have one is because while it won't reduce the emotional drama of your passing, it will certainly reduce the legal drama for your loved ones.
"Where do I get a legacy binder?"
"Where should I keep my legacy binder?"
You should keep an updated physical copy in a safe in your house, a digital backup in the cloud, as well as a backup in a safety deposit box that an attorney or the executor of your estate has access to.
"When should I fill out my legacy binder?"
Sooner rather than later. It's important but not urgent, so don't let it fall through the cracks.
Knock this out over the course of a weekend with your spouse, and revisit at least once a year after that. Add it to your calendar!
A Legacy Binder is NOT a substitute for a will
You still need a will to dictate what happens to your empire, and a copy should be included in your legacy binder.
This article from Investopedia has recommendations for good online will services.
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