It’s that time of year when we all vow for this year to be the year…
…for getting healthy…
…for cleaning out our garage…
…for drinking less wine…
Whatever your resolution or resolutions are, I would love to suggest a different type of resolution for you: Let’s finally get all of our important information together and share it with our family!
What information am I talking about? Where you bank, what credit cards you have in your name, what you have in the safe deposit box, where you keep the title to your car….the list really could go on.
And why should you care to do this? Because what if something were to happen to you? What would your family do? How would they know where you kept important documents or how would they know who to contact?
And here is what I know having worked with families who have recently lost someone- they all wish they had known more:
“I wish dad had told us about the investments he had.”
“I wish mom had told us what she wanted done with this jewelry she kept.”
“I wish grandad had told us there was nothing in the safe deposit box. We just spent days trying to get access to it”.
I hear it all the time. And it is avoidable. Just document and share the information your family would need to know if something were to happen to you. Ultimately, it is in your hands what kind of situation you leave behind for your family. Do you want them to go on a wild goose chase after you pass to find where you kept the code to the home safe, or spend countless hours trying to find your bank statements to figure out what they need to cancel now? No one wants to put their family through that. So get on it!
Not sure what all you need to document or share with your family?
We have put together a printable workbook for you to fill out that takes less than 30 minutes.
Here is just a sampling of what you will find in our workbook:
The idea is that you fill this out in the shortest amount of time possible (so it doesn’t feel like a burden) and share it with your spouse, your children, or someone you trust. I can assure you this is such a helpful exercise to do, even if it just illuminates that you yourself don’t know where these documents are stored or what insurance policies you have, etc.
It’s meant to get you started.
And of course, you do put sensitive information on these, please store them somewhere safe!
Let us know if we forgot anything on these worksheets that should be documented!