Carolina Pad

By Carson Tate, CPO
www.livingsimply.net

 

What would you do in an emergency? Are you prepared? Would you, a friend, spouse or heir be able to locate your personal papers and financial records? 

 

What can you do to be prepared for an emergency? Create a personal records inventory.

 

A personal records inventory can be kept in a binder or as a checklist with detailed notes on where the supporting documentation is stored. The inventory should include the following items:

The names and phone numbers of your attorney, accountant, and any person mentioned in your will.

 

Copies of the following documents:

 

Details of all life insurance coverage including that obtained through employment, professional organizations, travel/accident, credit card or mortgage coverage.

Include contact names and numbers for all policies.

 

A description of health and disability insurance coverage.

Include information on how to get authorization for emergency treatment.

 

A list of all financial accounts – checking, savings, accounts for minor children.

 

Information on pension and IRA benefits.

 

Description of all real estate owned (and related mortgages), the location of ownership records, and tax basis information.

 

A list of stocks, bonds and other investments held through brokers.

Include brokers names and contact information.

 

A list of other significant assets (cars, coin collections, antiques), approximate values and procedures for converting to cash.

 

Copies of the last seven (7) years tax returns.

 

Location of safety deposit boxes, keys and passwords.

 

By keeping your personal information in one place, the information can be quickly located by you and your family in the event of an emergency AND easily updated. Remember to keep your personal inventory list simple and applicable to you and your family.