“The Book” A Gift of Organization for Your Loved Ones

For most of us, our important information is located in different places Certain bills may be paid automatically. Insurance information is in a file. Our HVAC servicer’s contact is on our phone. Our attorney’s card is in a desk drawer, and often we search to locate this information ourselves.

We know how our household functions, but would someone else know? That is why I finally prepared “The Book”. It resides next to our Trust Document Binder.

"The Book" is an organized place containing the practical information a trusted family member or representative needs if you were temporarily unable to manage your affairs or on passing. A three-ring binder, an accordion file or another secure system can work beautifully.

What’s in "The Book"?

• People to Call is your first page, prioritized by who should be called first. Provide the names and telephone numbers of the people who should be contacted, such as family, and key professionals: list your attorney, financial, tax and insurance advisors, accountant and others.
• List household accounts and other recurring expenses. Include utilities, telephone and internet service, homeowners or renters, and auto insurance, property-related expenses, credit cards, subscriptions and recurring bills.
• Flag automatic payments. Someone stepping in to help needs to know what is being deducted automatically, from which bank or credit-card account, and approximately when.
• Identify your financial and insurance relationships, where accounts and policies are held and whom to contact. You may not want to provide passwords, Social Security numbers, or complete account numbers. Instead, provide enough information for your trusted representative to know what exists and where the secure information can be found.
• Identify where important legal documents are located, including your will or trust, powers of attorney, advance directives, property documents, vehicle titles, and insurance policies.
• Detail the final arrangements you have made. If you have selected a funeral home, cemetery, cremation provider, church, clergy member, or made prepaid arrangements, record where those documents are located. Leave simple notes about personal wishes that would otherwise be unknown.

Easy does it.

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Start with your contact list. Next week, list your automatic payments. Then gather insurance, household information and important documents. Once or twice a year, review and update your book.

"The Book" is about preparation versus expecting something bad to happen.

Someday, someone you trust will have to sit down at your desk and prioritize what needs to be done. Instead of searching through drawers, old statements, emails, and files, imagine the relief of finding a clearly labeled book that says, in effect: “Here is what you need to know. I organized it for you.”

That may be one of the most practical and thoughtful gifts we can leave the people we love.

Leah Kari, AMR, FHIAS, specializes in showing Medicare eligible people their insurance options. Reach Leah for comments at (520) 484-3807 (TTY users dial 711) or send an email to leah@leahkarisolutions.com.