<prompt> Human: What are the key steps needed to secure assets in the event of death? My wife and I have a young child. We already have life insurance. Is a will andor revocable trust the next logical step? What would happen to our assets house, IRA, 401k, bank accounts, vehicles, 403 b is the event of death?Assistant: Your investment accounts have beneficiaries - the money passes to them directly at death. For everything else, and other stuff, like who will have guardianship of your child, you need a will. And probably a couple of other things, like an advance health care directive, which specifies your wishes if youre incapacitated. Check the requirements in your state. Have an attorney help you draw them up. Heshe will add trust provisions for your children in your will. Human: Heres a question, what would happen if both myself and my wife were to die. Who would facilitate the transfer of our assets?  <response>: Thats why you name an executor in the will to oversee everything and get the final paperwork sorted. It could be a relative, close friend, or even the lawyer who wrote the will for you 