Below is a list of our financial life. The purpose of this list is in case I (we) end up in an emergency situation and cannot communicate for myself (ourselves). Store this somewhere safe.
A high-quality fire safe or a Safety Deposit Box. Some Lawyers will also store your will for you. That may be a good idea as well.
Get someone close to us to assist you and feel free to share this letter with them if need.
Locate all documents
All financial records, bank account details and asset registers can be found in the following place:
- Will: _____________________________________________
- Final Directive(s):___________________________________
- Power of Attorney:__________________________________
- Representation Agreement:___________________________
- Company benefits document(s):________________________
- Birth certificate:_____________________________________
- Marriage certificate:__________________________________
- Bank account information:_____________________________
- Life insurance policies:________________________________
- Trust documents:____________________________________
- Property ownership documents:_________________________
Possible people or companies to notify [Provide names & numbers below ea.]
- Specialist advisors – insurance, accountant, lawyers, tax specialists:___________________________________________
- Banks:______________________________________________
- Mortgage Lender:_____________________________________
- Outstanding Loans:____________________________________
- Beneficiaries:_________________________________________
- Employer:____________________________________________
- Clients:______________________________________________
If needed, complete these key tasks
- Destroy and cancel all credit cards
- Review safety deposit box, safe contents [Location] :______________________
- Re-direct all mail and change voicemail message on my mobile phone
- Determine/locate list of liabilities
- Re-register all assets in appropriate name
- Our financial advisor should be contacted immediately. He/she can assist with claims processing, suggestions and money management issues: [Contact information is.] _________________________________________________________________________________
- In a worst case scenario, my wishes for my funeral are found in the following place: ______________________________________________________________
- If needed, remember to do the following as soon as you can:
- Change your own will if appropriate
- Increase the amount of life insurance to that of primary family breadwinner – our advisor will help you with this
- Increase disability, health and critical illness insurance if appropriate
- Have updates and changes made to all shareholders/business partnership agreements.
- Does a buy/sell need to be acted on or does the business need to be sold?
- Consolidate any outstanding debt with proceeds from the life insurance (If needed)
- If I have a major illness speak to our insurance advisor about any existing critical or terminal illness coverage we may have. There may be available cash so we do not need to access savings.
- You will probably be asked to sign many releases and documents during this time. Read everything carefully and ask for help if you are at all unsure.
- The following people should be consulted jointly and simultaneously for further advice on our financial affairs in the medium to long term:
- name of accountant:___________________________
- name of attorney:_____________________________
- name of financial advisor:_______________________
My list of passwords & usernames can be found in the following secure place: ___________________________
- Include all websites
- Banks
- Computer
- Phone
- Crypto Currency
