Financial Update – Disaster File

 

If you remember back in July, I realized that I had to update our personal files, or our “Disaster Files.” This was the files showing investments, wills, titles, etc. Often folks do this once every so often (many times after a family member passes away) and then let it lie fallow till the next “emergency.” Yep, I was one of those folks, having not touched it since 2013. In my previous post I attached a couple of helpful documents that I hope folks find useful.

It’s been a bit of a “slog” as I have worked my way through, but here is where I am at the beginning of the 4th qtr.

No Description
1 Update Master List from 2013
2 Send Master list to Mrs. 39 Months
3 Price out updating wills
4 Redo filing cabinet with Master List & Disaster file #1
5 Household budget folder (budget goals, income statement, balance sheet, income/expense forecasts)
6 Housing Information (Title, insurance, receipts for work, property taxes)
7 Online passwords
8 Location of keys to safe deposit box – Mrs. 39 Months drawer
9 Credit records: Resolution of past debts (auto, home)
10 Home Insurance Policy
11 Net Worth’s 2009 to present
12 Annual updates for Jan 1, 2017 into investments
13 Investments (list of accounts, goal planning, annual balance sheet)
14 Taxes: Tax records for previous year, current year documents
15 Personal background info (Education, personal history, resume)
16 Credit: Resolution papers of past debts, credit card names, numbers & 1-800 number
17 Health insurance (Booklet from work, health history, medications, etc.)
18 Life Insurance (Insurance policies, etc.)
19 Safe Deposit: Title to Mrs. 39 Month’s auto, DD214, NY and KY marriage certificate, letter of last instructions, copy of will, personal property inventory, negatives of personal property, passports, old passports, Mrs. 39 Months’s birth certificate, Mr. 39 Months’s birth certificate, Mr. 39 Months’s SS card)
20 Letter of Last Instructions
21 latest credit report
22 Auto Info: Insurance coverage, policies, auto registration, repair/maintenance records
23 Instruction letter (where to find everything, computer passwords, etc.)
24 Setup dates for regular updates to the files (so I never have to do this again) – Jan 1 of each year

The hardest one to date what the letter of last instructions. It is here that you really start feeling your age and realize that it could end. You need to determine funeral arrangements, where to be buried, etc. It really does make you think. Still, it’s done and I have it in a fairly obvious place in the house, and have let key folks know where to find it.

So what do I have left?

1 Updated list of personal property
2 Pictures of personal property
3 Guarantees & warranties (appliances, cars, etc.)

The pictures of personal property actually might end up being a video (room by room) and description. Often these are better than just pictures. Guarantees & warranties may be something that I just start assembling as we purchase items, and stick in place.

I will probably start working on these in the New Year, as part of my “Jan 1” plan. I hope you folks are also doing some of the “slog” work that you need to do for FI.

Good luck!

 

Mr. 39 months.

 

 

 

 

 

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