Getting Prepared for Life’s Uncertainties
Although the presidential election may have left you feeling uncertain about the future of the country, it is important to periodically assess your own state of affairs to reduce the uncertainties your own family may one day face. Taking steps to organize information now can help reduce the confusion for your family during a time of unexpected crisis.
Creating a list of your important documents is one beneficial way to gather a lot of information in one place. This list can lessen the burden on your family by providing them with an overview of your affairs and the documents they may need. Be sure to include the location of such documents so they can easily find any needed additional information. The list should include such items as:
- Estate planning documents: will, powers of attorney, advance health care directives, trusts, etc.
- Financial accounts: banking, investment accounts, IRAs, annuities, life insurance, etc.
- Bills to be paid: mortgages/loans, credit card accounts, insurance premiums, utilities, etc.
- On-line accounts and passwords
- Location of safe deposit box and key
- House and vehicle titles
- Contacts: lawyer, financial advisor, accountant/tax preparer, insurance agent, etc.
Once the list is complete, be sure to keep it in a secure and accessible place and share that location with your spouse or other trusted family member or friend. Also be sure to review the list periodically to update the information as needed. Taking action now can go a long way in easing the uncertainty for your family in the future.
January 16, 2019
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