Getting Your Affairs in Order (Part One)

No one ever plans to be sick or disabled. Yet, it’s this kind of planning that can make all the difference in an emergency.

Louise’s Story

Across town, 80-year-old Louise lives alone. One night, she fell in the kitchen and broke her hip. She spent a week in the hospital and 2 months in a rehabilitation nursing home. Even though her son lives across the country, he was able to pay her bills and handle her Medicare questions right away. That’s because, several years ago, Louise and her son made a plan about what he should do in case Louise had a medical emergency.

Preparing and Organizing Legal Documents for the Future

Long before she fell, Louise put all her important papers in one place and told her son where to find them. She gave him the name of her lawyer, as well as a list of people he could contact at her bank, doctor’s office, insurance company, and investment firm. She made sure he had copies of her Medicare and other health insurance cards. She made sure her son could access her checking account and safe deposit box at the bank. Louise made sure Medicare and her doctor had written permission to talk with her son about her health and insurance claims.

What Exactly Is an “Important Paper”?

The answer to this question may be different for every family. Remember, this is a starting place. You may have other information to add. For example, if you have a pet, you will want to include the name and address of your veterinarian. Include complete information about:

Personal Records

Full legal name

Social Security number

Legal residence

Date and place of birth

Names and addresses of spouse and children

Location of birth and death certificates and certificates of marriage, divorce, citizenship, and adoption

Employers and dates of employment

Education and military records

Names and phone numbers of religious contacts

Memberships in groups and awards received

Names and phone numbers of close friends, relatives, doctors, lawyers, and financial advisors

Medications taken regularly (be sure to update this regularly)

Location of living will and other legal documents

Financial Records

Sources of income and assets (pension from your employer, IRAs, 401(k)s, interest, etc.)

Social Security and Medicare/Medicaid information

Insurance information (life, health, long-term care, home, car) with policy numbers and agents’ names and phone numbers

Names of your banks and account numbers (checking, savings, credit union)

Investment income (stocks, bonds, property) and stockbrokers’ names and phone numbers

Copy of most recent income tax return

Location of most up-to-date will with an original signature

Liabilities, including property tax— what is owed, to whom, and when payments are due

Mortgages and debts—how and when they are paid

Location of original deed of trust for home

Car title and registration

Credit and debit card names and numbers

Location of safe deposit box and key

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