Your “360 File Safe”

“I’m going to help you get your financial house in order.

Basically, I want to help you do what you haven’t done.”

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Keeping tabs on important documents is good for your finances

“It isn’t enough simply to sign a bunch of papers establishing an estate plan and other end-of-life instructions. You also have to make your heirs aware of them and leave the documents where they can find them.”

Are your financial records and legal documents organized in a safe place? 

One thing about financial and estate planning, it can take a lot of paper. Important documents such as wills, insurance policies, bank account information and legal documents need to be not only stored safely, but also readily available when you or your beneficiaries need them. An important, and often overlooked, part of financial planning is simply being able to access information and documentation when you need it. Fortunately, organizing your important documents is not difficult, and once we help you set up your personal “360 File Safe” system it takes only a few minutes every year to maintain.

“If something were to happen to you, would your trusted family members or confidants know where to find your financial documents? Are your financial records organized in a safe place?” – SEC Investor Bulletin, Dec. 2020

“I want to make sure you are prepared.”

Before you start organizing your documents, the first thing to do is get rid of the things you don’t need. For example, you likely don’t need any of your regular or monthly bills or statements that have no bearing on your taxes (like phone, cable or utility bills, ATM statements, store receipts, etc.). These can be discarded once you have recorded them in your checkbook, budget spreadsheet or other bookkeeping method.

The financial consequences of failing to keep your documents in order can be significant. Most experts recommend creating a comprehensive folder of documents that family members can access in case of an emergency.” – The Wall Street Journal, July 1, 2011 

Next, we will assist you in organizing and setting up a simple system that contains documents like wills, insurance policies, deeds and titles, etc. We will include a complete list, with account numbers and phone numbers, of all the mutual funds, insurance policies, bankers, lawyers and doctors you and your family have. We will have a detailed prescription list of all the medications you currently take. Also, we will make a list of your bank accounts, credit cards accounts and loans. Create an inventory of your household possessions of value.

. printable LFS File Safe info

Your online information – all the websites, social media accounts and email you access – should also be included in your organized document process. We will assist you in preparing a list of the websites and online accounts you use frequently, particularly those that deal with your finances or commerce, and include your usernames and passwords.

 

Once we have completed your “360 File Safe” document system with all your vital information, you will need to go over it and explain the organizer with a trusted family member.

Organizing all your vital information and paperwork helps you in your overall financial planning process. While you are alive, it can act as a “bible” of your vital information for family members who need to access or assist you in your financial life. It will also help your heirs once you pass, by lessening their burden during a time of grief. As your financial advisor we can help you set up and maintain this important repository of information.

“Organizing all your vital information and paperwork helps

you feel more confident and secure about your future”.

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