Keeping track of all of your personal and financial information isn’t easy. However, compiling all of the information into one guide is critical so that it is easily accessible when you need it the most.
First, gather all information that relates to property that you own, such as a will, trusts and powers of attorney. If you haven’t completed these items, do so as soon as possible. Next, think about all of your health or end of life wishes and gather your living will, power of attorney and a medical DNR form. Make sure to include copies of all insurance policies, including life insurance as well.
Assets and Debts
Make a list of all of your outstanding debts, the current balance on each of them and the contact information for each of the companies. Then, perform the same exercise for all of your assets. Make sure to include all checking and saving accounts, CDs, retirement accounts and pensions. If you have children, include college savings accounts as well.
While this isn’t a comprehensive list, it is a very good start. Once you have compiled all of the information, place it in a secure location and make sure that your loved ones and your attorney knows where it is.
For more information about life insurance coverage in Washington, please contact Humble & Davenport Insurance, located in Renton.