In a recent report we touched on the importance of keeping certain financial documents.
Today, we are taking a deeper dive into what you should keep and for how long. We’ll also give you suggestions on where to store documents, and when they are no longer needed, how to get rid of them.
In a recent report, Care.com talked about the importance of end-of-life planning and included My Life and Wishes as the “best on-line end-of-life planning and document service(s)”.
In a related Article, Kim Komando names My Life and Wishes as one of her top picks on organizing end-of-life plans.
What information do people need to access in emergency situations?
A trip to the ER may require:
List of allergies, current medications, medical history, doctor contacts, family contacts, insurance information, photo identification.
A fire or natural disaster may require:
Identification documents, insurance documents, proof of ownership (such as deeds or titles), access to bank accounts for emergency cash, pet location information, medical information and family contact information.
So where do you keep this information? Is it accessible and is it secure?
Probate is the court process by which a WILL is proved valid or invalid. If there is no Will, it is the legal process where the estate is administered after someone dies.
In the absence of a Will the court appoints a Personal Representative to administrator the deceased persons estate. This Representative is responsible for locating any assets and determining their value.