Somehow, it never fails, once you need that info — it’s like — Where did I input it? You start looking in all the “good places” and it’s nowhere you should be found! Of course, you will find all stuff, but — normally the one you must-have will be nowhere in sight!
There is a straightforward way to avoid the above scenario. What you need can be a System to maintain an eye on your important records all the time. No more, fumbling, searching, cursing, and swearing! No more wondering — “where the heck would it be?”
Here’s what it is done to start locating insurance contracts, your will, any legal information, for instance, a patent and also other public information fast and with ease:
Set up Tabbed Sections Within A File as follows:
3. Credit and Loans
5. Estate Planning [including wills and post-mortem matters]
6. Important Personal
9. Major Assets
10. Professional Residences
11. Tax Records
12. Vehicles [including boats]
File each important document as outlined by each appropriate tab. Many times your files like savings bonds may be at home safe, you will be your attorney’s office, contracts, deeds, or perhaps patent information could be in the safe deposit bank safe deposit box.
Keep tabs on your important records. Keep them organized and available. You will not lose out on a tax deduction since you failed to keep the necessary receipt. More importantly, the System will help a spouse or executor locate your documents in case of death or disability.
13. Include Personal Records:
- Birth certificates of loved ones
- Death certificates of deceased members of the family
- Marriage license
- Divorce decree and custody agreement (if divorced)
- Passports (updated)
- Social Security numbers for family members
- The names and addresses of loved ones, close relatives, and then for any persons mentioned in a very will
- Military records
- List of previous employers
- List of government employers
- Medical records and medical health insurance cards for family members
Describe the major assets that you simply own individually or jointly along with your spouse or another person, with the approximate value and site of deeds, titles, stock certificates, or another proof ownership.
Cash, realty, investments, IRAs, retirement plan benefits, life policies, interests in partnerships or other business entities, jewelry, and also other luxury items, automobiles, boats, antiques, coin collections, collectibles, art objects, and debts owed to you by others.
Estate Planning Records
Painful and unnecessary losses can occur just due to failure to set up your important documents including stocks, bonds, bank accounts, real estate property, etc. Even insurance coverage benefits might go unclaimed. You’d be surprised how often this may happen! Every year millions of dollars are directed into state treasuries due to the fact the lawful homeowners are not located.
Relatives may well not even be informed of death thus, valuable family history might not be passed to our children and grandchildren.
All of those losses might be avoided; however, with just some thoughtful planning and organizing of documents.
Why not make life easier for your family. It may be somewhat frustrating, however in the end it is worth the work.