We all have an assortment of important paperwork and documentation that has to be kept. I’m not talking about the piles of mail that bombard us at home every day, or the files and files of taxes you have saved from decades ago. I’m talking about the essentials, like Passports, birth certificates, deeds and other paperwork related to your home, insurance policies, and extra cash. Even if most of your paperwork is digital at this point, chances are you’ve got some actual paperwork that needs to be stored somewhere safe.
Ideally, you would have all of this saved together in a place where you could access it easily if you need to quickly. Or, God forbid, if something were to happen to you, where your trusted friends and family could access it.
For many people the best option is a simple fire-resistant file organizer. These are not expensive and are not hard to find. A search on Amazon for “fire-resistant file organizer” will show you many options. Some have locks on them, some have built-in organizing systems, like pre-made file labels. Most are about the size of a toaster oven.
You don’t have to get fancy about this. Just think about anything you would need if you had to evacuate your home in an emergency. You may want to keep your will in here, along with a copy of your living will, health care proxy, and other documents that would be needed by your estate or your family if you were to become incapacitated. You may also want to include some cash – maybe enough to help you out if you have trouble getting to an ATM.
One client has even gone so far as to write a note to the people she loves. Each one is in a sealed envelope with their name on it. Think of what a gift this will be to them after her death.
Here’s a full list of things you may want to keep:
Passports
A copy of your will, trusts, living will, health care proxy, and living will
Birth certificates, death certificates, and marriage certificates
The original copy of your social security card
Deed to your home or Co-op shareholder certificate
Notes and receipts for improvements you have made to your home
Copies of the cover pages for insurance policies – homeowner’s insurance, auto insurance, health insurance, life insurance, etc.
Paperwork related to your car(s)
Cash
A list of contacts you may need in a hurry one day, such as your: insurance brokers, mortgage broker, financial advisor, doctors, vets; on this list, you may also want to include a few details for each contact such as your policy and account numbers
Keys you only need rarely but could need in a hurry, such as keys to safe deposit boxes, storage units, or to the homes of people close to you
By the way, in an earlier blog we covered the importance of having a Go Bag – in case you have to leave your home in a hurry. This is a different kind of preparation. Both are important!
