Documents Every Senior Should Have in a Safe

Senior Thursday

We know the importance of having a will—especially when children or blended families are involved.  But as we age, this document, along with others, are a must for the elderly.  In addition to a will, every senior should have a trust, a power of attorney for property and a power of attorney for health care.  An attorney can help draw up these documents.  These documents should be kept in a safe place—either a safe-deposit box at the bank or an in-home fire-proof safe.

In addition to these legal documents, seniors should have copies of their life, auto and home insurance policies, including contact information.  Regarding their health, seniors should have health insurance information in their safe, and a list of their physicians, allergies and medications. 

All financial information should be handy, too, including a list of investment accounts, IRAs, bank accounts, savings accounts, etc., as well as debts such as mortgages or loans.  Account numbers and contact information should be on this list.

Other legal documents to keep safe are birth certificates, marriage certificates and death certificates, as well as powers of attorney you hold for others. 

Finally, include your burial wishes, especially if there are specific instructions you want followed such as cremation or choice of cemetery.  If you already have a burial plot, the paperwork should be in the safe.

Let someone in the family know where your documents are kept, and how to access these documents in case of an emergency.  This can be a child, a close friend, or an attorney.

Losing a loved one, or leaving loved ones is never easy.  Being prepared make the journey smoother.

 

If you need help organizing your papers, contact Prima By Design (847-955-1822) for an estimate.