A few years ago, a good friend of mine passed away. She had taken care of all the bills and record keeping. Besides dealing with the grief of her loss, her husband had to quickly get a handle on their financials, which only added to his incredibly difficult situation.
Who pays the bills, files important documents, keeps the financial records in your household? If something were to happen to that person, would someone else be able to step in and take care of the finances?
Donna Smallin, author and professional organizer, recommends making an “In Case of Emergency File”. Ask yourself, “What would someone need to know to take over the finances in this household?” Include necessary information in one file. This may include: bank acct numbers & passwords; phone numbers of attorney, accountant, financial planner, investment broker; location of important document: social security cards, insurance policies, will, power of attorney.
Let significant people in your life know about this file. Review this file yearly and make any necessary updates. This is a mundane job. Force yourself to take care of this. Your family will appreciate it in the unlikely event of a tragedy.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment