A client asked for detail on the list for “in case of emergencies” documents
Here is an expanded version of what I have used in more recent financial plans, for the text on all the planning analysis:
You should consider compiling a reference book or adding to your financial plan book photocopies of important papers, identifying where the originals are, then adding a list of important contacts, instructions to your executor and trustee and other important notes for family and friends. You would update this at least annually with new asset statements (consider this as you gather information for preparing your taxes). To be more specific, the list (and copies) should include:
1. Location of original will, trust, etc.
2. Location of health care proxy and durable power of attorney
3. List of professionals: doctor, attorney, CPA, etc.
4. List of fiduciaries with contact information: health care proxy, guardians, executors and trustees, attorney-in-fact for durable power of attorney, etc.
5. Location of insurance policies and valuables such as original titles, etc.
6. Location of safe deposit box for valuables and items in #5 of 7
7. List of all bank and investment accounts and location of any stock certificates or other documentation for investments
8. List of all mortgages, loans and credit card accounts
9. Any appraisals or other listing of items by value
10. All automatic debits that need to be addressed
If you have questions, additions or comments, let me know