No one can predict the future, but we can prepare for it. My father was a wiser man than even I gave him credit for. After he retired, he made sure I was listed on all his bank accounts and as trustee of his estate. Conversations about where he kept his safety deposit key and where his insurance papers were stored made me uncomfortable, until he got sick. Then, when it was obvious he was terminally ill, we were saved the pain of discussing these things under the shadow of his illness and what we all knew was happening to him. So, in his memory, here is a list of things you too can get squared away for a later time.
First Things First
Everyone knows you should carefully protect your Social Security number. But be sure to share this number with someone in your family. It will be needed for accessing many health- and financial-related records if you cannot do so yourself. Include as well your birth information and birth certificate (original if you have it).
What You Own
Make a list of your assets, including beneficiary details about such things as:
* Taxable and nontaxable investments
* Retirement savings accounts
* Annuities
* Pensions
* Safety deposit box, list of contents, location of the key
What You Owe
Find a safe place to store information about what you owe, and tell your family about:
* Name and lender for any loans you have outstanding
* Account numbers
* Current balances
* Payment due dates
* Credit cards--numbers and expiration dates
* Accounts you regularly use for recurring payments or automatic payments of utility bills or other expenses that are debiting your bank account each month
* Lines of credit
* Mortgages
* Car loans, other vehicles
* Charitable commitments
* Estimated tax payments due each quarter
* Investment obligations
Where You Work
* Co-worker names and addresses
* Human resources contact at your workplace
* Any ownership or stock documentation or options (this one I am not good at!)
Where You Live
Make a list of the following information and tell someone in your family where the list is kept:
* Utility companies, average bills, due dates
* Services (exterminators, pool cleaning, yard maintenance), subscriptions
* Where car is parked and location of keys--including the extra set
* Location of home deed/title
* Location of passport and other identification
PLEASE label spare keys, and throw away those that are no longer needed
What You Plan
This is a helpful list! If a family member has to suddenly become responsible for your personal records, help to find the contact information about your insurance and personal wishes will be much appreciated. Here are some suggestions.
Discuss insurance of all types--company name, phone number, policy numbers, dates due, amount of premiums, where to find actual policies. Remember to include the following insurances, if applicable:
* Homeowners
* Car
* Disability
* Long-term care
* Life
* Estate Plan
Finally, find and tell someone about your personal preferences and plans. Include copies of your most recent documents, such as:
* Wills
* Trusts
* DNR
* Durable power of attorney
* Durable power of attorney for health care
* Whom to notify in case you become ill
* Obituary
* Burial/funeral plan
Gathering and organizing all this can be overwhelming and is likely to take some time. However, if you do this for yourself ahead of time, you can be sure your wishes are known, and you can spare you and your family a great deal of anxiety if they have to find it all for you.
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