Are your personal records organized? The National Law Review’s Estate Planning Update for February 2015 urges that you compile your personal records and keep them in a safe place that can be accessed by your representative in the event of your death or incapacity. These personal records may be paper files or digital assets/passwords. The National Law Review lists the top ten types of records that you should print or save in digital format. Remember to keep the files in a secure location that is separate from your computer but can be accessed by your representative if needed. The list is as follows:
- Personal Info
- Cash/investment accounts and safe deposit boxes
- Real estate
- Partnerships/closely held business interests
- Life insurance and retirement plan assets
- Loan/notes
- Estate planning documents
- Tax records
- Digital Files
- List of Advisors
Read more about each of the above types of records at: http://www.natlawreview.com/article/estate-planning-update-february-2015