SLT 027: Organizing Important Documents & An Intro To Google Drive

Organizing Important Family Documents and an Intro to Google Drive Be sure to subscribe in iTunes and leave a review in the iTunes store! It helps others find the show!  Thanks! Vanessa Topic: Organizing Important Family Documents I read somewhere, that “family and home office filing systems are a lot like snowflakes...each one is unique and different.”  And it’s so true! With that in mind...I’m going to share some basic concepts and things to think about when it comes to preparing your documents so that you are prepared and less stressed if and when an emergency or major life event occurs. So, why organize and be prepared? If there were a major life event or emergency...let’s say a fire, flood or tornado...would you be able to grab your important files and paper within a moment’s notice?  Well, there’s one good reason to get organized. 70% of Americans die each year without a will (Forbes.com 3/30/12).  So that means...someone will be appointed by the state to handle all matters of your estate...possibly including guardianship of your children. And it could end up being someone you would never want to handle your estate or care for your kids!  So that’s another pretty darn good reason. It’ll save you time searching for documents in the event of an emergency or major life event.  It’ll also save your family member’s time in the event of a death in the family. It’ll spare unwanted or additional emotional stress and frustration. It’ll save money on funeral homes, services and other last wishes if those things are planned and prepared for in advance. Cut down the chances of missing out on survivor benefits and decrease chance of financial hardships of surviving family members. What constitutes important family/life documents: Identification papers: birth certificates, social security cards, citizenship, passports, etc. Family documents: marriage certificates, divorce decrees, adoption papers and custody or guardianship papers, death certificates Deeds and titles: vehicles, homes and other property Military records: DDForm 214 Wills Living wills Last wishes Cemetery plot registration Power of Attorneys: general, medical, durable, etc. Trusts Safe deposit records Investments Retirement and pension plans (IRA, military and other death/survivor benefits) Insurance documents: life, property, casualty, homeowner’s, auto, health and disability (VA disability letters) Business papers: incorporation, DBAs, partner contracts and agreements Bank accounts Loans and debts Note: You don’t need to have all the monthly statements for all of the financial documents I mentioned.  You just need the basics of what accounts you have and what are the terms of the benefits or of the loan/payoffs, etc. Some food for thought and clarification on your important documents: A will is the single most important legal document you will ever sign.  Dying without a will can incur unnecessary taxes, expenses and hardships on your heirs. It’s highly recommended that you update your will in the event of marriage, divorce, or birth or a death of a family member as the beneficiaries may change.  Review it periodically to make sure it is current and up to date. If you move, make sure your will is valid in your current state of residence. Once you’ve prepared a will, consider discussing it with all those involved so that there is clear understanding behind your decisions. Other directives should also be thought through like: living wills and advanced directives which will help family and loved ones make critical end-of-life decisions if you are unable to do so. Also think through Powers of Attorney: There are different types like, General, Special, Durable and Medical POAs, etc. Regarding last wishes.. they aren’t a formal legal document; however it’s a great way to let t...

Fecha de Publicación: 23 de mayo de 2013

Duración: 54 min