| January. The New Year. It always seems like a good | | | | information. Include addresses and phone numbers. |
| time to reflect, plan and begin anew. | | | | - Make and post an emergency contact list. Put it in an |
| You make resolutions to lose weight or make more | | | | obvious location such as on the refrigerator door, inside |
| money to better your life. | | | | a cabinet or above a kitchen phone. Include names and |
| You vow to eat healthy. To exercise more. To purge | | | | addresses for family members, doctors and all |
| your closets of the fashions you never wear. Or | | | | emergency contacts. |
| maybe you promise to spend more time with friends | | | | - Make and maintain an accurate list of current |
| and family. | | | | prescriptions and pharmacies. |
| Yet there is a little-known resolution unknown to most | | | | Assets |
| people. A simple and painless commitment that brings | | | | Protect your loved ones with careful and organized |
| those who resolve to make it an organized life, less | | | | record keeping in addition to financial and estate |
| daily worry and complete peace of mind. | | | | planning. This will help ensure you minimize taxes and |
| More specifically, I am talking about eliminating your | | | | asset loss. |
| worry and concerns about money, your life and your | | | | - Keep an updated list of all assets and liabilities. |
| health by organizing all your important records and | | | | - Keep one copy and give another to a trusted |
| documents. | | | | adviser and or a relative. |
| In fact, organizing your important documents is one | | | | - Locate and organize all asset related documents |
| resolution you can and should keep. It will give you and | | | | (investments, retirement, insurances, etc.). |
| your loved ones security and peace of mind in the | | | | - Make a list of every insurance policy you own. |
| event of a crisis or unforeseen emergency. | | | | Include benefit, premium and customer service |
| It is better to look ahead and prepare than to look | | | | information for each. |
| back and regret. | | | | - Plan to lose your wallet! Make a list of all credit, ATM |
| - Jackie Joyner Kersee | | | | and insurance cards along with phone numbers for |
| As a daily money manager, professional organizer and | | | | cancellation and replacement. |
| family office consultant for more than 20 years, I have | | | | - Have your income and dividend checks deposited |
| seen panic-stricken families scrambling to locate | | | | directly into your bank account. It is easy, secure and |
| important records during times of crisis when they | | | | eliminates lost or stolen checks. |
| should be spending time with their loved ones. | | | | - Inventory the contents of your safety deposit box |
| Rather than searching your home or office for the vital | | | | and store the information in a safe place. Do not keep |
| information you need, you can have all of this | | | | anything in your safe deposit box that you need |
| information organized in easy-to-find locations. This will | | | | immediate access to such as an original will, cemetery |
| allow you to focus on the event or crisis at hand. It is a | | | | deed, burial instructions, etc. |
| relief to know exactly where to find important medical | | | | - If you use a safe in the home to store important |
| and insurance information, burial papers, real estate | | | | records and assets, be sure it is fireproof and that |
| deeds, military records, safe deposit keys, financial | | | | someone you trust has the combination or key to gain |
| accounts and wills. It also helps you get through the | | | | access. |
| crisis faster with the smoothest transition possible | | | | Estate Planning |
| considering the circumstances. | | | | The best way to protect your current lifestyle is to |
| Although it will take a little time, it is not difficult to | | | | make personal and financial arrangements before |
| gather and organize your vital information. That is why | | | | life-changing events occur. This is the only way to be |
| it is so important to start right now. | | | | sure your wishes are carried out in the event of |
| The key is to break the process down into simple fact | | | | disability or death. Please note: it is best to seek the |
| gathering sessions where the whole family can get | | | | advice of an estate lawyer and financial adviser when |
| involved. After getting all of your important documents | | | | planning your estate. |
| and information in order, you store them in a safe | | | | - Make a will or revocable living trust now, while you |
| place. | | | | are able to make timely and competent decisions. |
| Following is a quick, easy-to-use plan for organizing | | | | - Designate a power of attorney for those |
| your vital records... and your life. | | | | circumstances where you may be temporarily or |
| | | | permanently disabled. |
| Home | | | | - Prepare a living will and health care proxy that explain |
| The first thing you need to do is have all your | | | | your wishes concerning artificial life-support measures. |
| important household documents, files and papers | | | | Be as detailed as possible. |
| organized and readily available so you and your loved | | | | - Store your will and health care proxy documents in |
| ones can find this information without issue. | | | | an organized filing system with other vital records. |
| - Make a complete record of personal information for | | | | - Choose a guardian or guardians for minor children |
| each member of your family. Include name, address, | | | | and make appropriate financial provisions for them. |
| social security number, marital status, etc. Be sure to | | | | Uncle Sam |
| include information about aging parents if you are | | | | Whether a professional prepares your taxes or you |
| responsible for their care (power of attorney, medical | | | | prepare them yourself, it is important to keep and |
| info, elder care details, etc.). | | | | organize all information needed to file returns. |
| - Make an inventory of the contents in your home and | | | | Maintaining good tax records throughout the year will |
| any items in storage. Support this inventory with | | | | alleviate tax time jitters and save you a significant |
| photographs, video recordings and licensed appraisals | | | | amount of time. |
| when possible. | | | | - Set up a grass catch file to hold all tax related |
| - Create a list and description of all real estate you | | | | documents for the current year. Include medical |
| own. Locate and organize deeds, leases and title | | | | receipts, real estate receipts, business expenses, |
| information. Include all properties such as residential, | | | | investment expenses, IRS 1099s, W-2, K-1 and stock |
| rental, investment, commercial and time-shares. | | | | buy/sell confirmations. |
| - Locate and organize all insurance records (life, health, | | | | - Organize and store completed tax returns and |
| accident, business, etc.). | | | | supporting documents by year in a permanent location. |
| - Make a list including names, addresses and phone | | | | - Record where copies of the last three years of |
| numbers of all service providers and advisers (plumber, | | | | returns can be located along with the name, address |
| electrician, doctor, dentist, lawyers, accountant, | | | | and telephone number of your accountant or preparer. |
| insurance agents, etc.) | | | | - Retain tax records, bank statements, deposit slips, |
| - Make a list including names, addresses and phone | | | | canceled checks and credit card statements for three |
| numbers of all domestic hires (nannies, caregivers, | | | | to seven years. |
| housekeepers, gardeners, etc). | | | | - Be sure to pay all federal, state, local and real estate |
| - Make a list of all online accounts and passwords. This | | | | tax liabilities on time to avoid late fees and penalties. |
| is especially important for financial accounts such as | | | | - Keep records and receipts for all home |
| bank, investment and retirement accounts. | | | | improvements. This is still a great tax deduction when |
| Health | | | | you sell your home. |
| Having your health information readily available is not | | | | - Have your tax refund electronically deposited into an |
| only prudent, it can be a lifesaver in the event of an | | | | interest bearing bank account. This saves time and |
| emergency. This is especially true for individuals with | | | | you start earning interest immediately. |
| acute illnesses, disabilities and older adults. | | | | Of course, there are other activities and documents |
| - Make a file with medical history for each member of | | | | you should include when organizing your life. But the |
| your family. Be sure to include date of birth, current | | | | simple plan outlined here includes the most important |
| height/weight, allergies, blood type and past or current | | | | things you need to consider. |
| illnesses. | | | | So what are you waiting for? Get organized this |
| - Make a list of doctors and their specialties, | | | | January and enjoy your best year ever! |
| pharmacies used, health insurers and local hospital | | | | |