A New Year means it’s time to act on your resolutions. Getting organized is one of the top 10 New Year’s resolutions, according to a recent Reader’s Digest survey.
Organizing your home and office are lofty goals and can lessen the chaos of your everyday life. However, consider how important it is to have your personal and financial documents organized and to share this information along with their location with appropriate individuals.
Life’s emergency situations require advanced preparation and planning. Your spouse and adult children—and any others who would need to handle your financial affairs—should know the location of all papers, contracts, documents, policies and other needed information in case something happens. They should know to whom to turn for advice in case of any of these emergencies:
Natural Disasters. It seems like every day on the news there are more reports of massive natural disasters—devastating fires in California, hurricanes on the East coast, floods where it has never flooded before.
Theft. Theft of personal belongings can happen quickly at your home, office or in a public parking lot.
Sudden Illness. Sudden illness or injury could leave you incapacitated with your loved ones not knowing how to gain access to your important documents, such as your durable power of attorney.
Contingency Plans. While traveling out of town or overseas in our current environment, a situation may occur where you need your trusted individual to have access to your personal or financial information.
With online banking and bill paying, it is easier than ever to move money around, but harder for your designees to find out what’s where. Prepare a list of all your accounts (bank, credit card, investment
Your team consisting of your tax preparer, financial advisor, estate planner
Kick off the New Year by making sure your personal and financial documents are organized and secure. Then, share their location with the