Around the Home in 80 Days: Destination – Important Paper Documents

Last week we worked on the large filling drawer to keep important papers. These papers, although quite important, are not as imperative as the items I am going to ask you to keep in your smaller folio. Once completed, this smaller folio will contain everything you need in case of an emergency. In addition, it is extremely important to instruct your family members as to where this folio is in case you are unable to get it.Â

Here is a sample of important papers. Keep in mind your list may look different, and should be personalized for your own needs:

• Titles of owned property (real estate, cars, recreation vehicles, etc)
• Other property records
• Certificates of Deposits and Stocks that have not been cashed in
• Insurance Policies (auto, home, health, others)
• Open Loan Agreements
• Child Support Orders
• Retirement plan papers
• Birth Certificates for all family members
• Citizenship papers
• Marriage Certificate or domestic partner registration paper
• Divorce paper
• Death Certificate of family member
• Social Security Card
• Records of paid mortgages
• Will and Trust
• Power of Attorney
• Copies of all current credit cards front and back (in case they got lost or stolen)
• Past 3-7 (or more) years taxes – for detailed information on how long to keep your tax records, check here: http://www.irs.gov/publications/p552/ar02.html

Following is a guideline for completing these tasks, but please adjust these suggestions to best suit your needs.

Day 15:Â Â

Get a folio for these important papers and designate a home for them: safety deposit box, fire safe, etc.

Day 16 – 17:Â

Go through your old filing cabinet or drawer and purge old papers that you don’t need and file the important documents. Don’t forget to shred any papers prior to throwing into the garbage if there is any important information on them. Check with your accountant and/or attorney for personal guidelines on what to keep and for how long. Start a list of the documents that you need to acquire to complete this folio (will, trust, birth certificate, etc.)

Day 18:

Make sure your documents are current. If you need a will, trust, power of attorney, etc. contact an attorney, or you can even do this for yourself using different methods. I have used Suze Orman’s Protection Portfolio CD to create these documents and it worked out easily and was quite inexpensive.Â

Day 19:Â

Make copies of all your credit cards (front and back)

Day 20:Â

Take this time to apply for any important documents that you have lost throughout the years: social security cards, birth certificates, marriage license, etc. Check with your state’s website for detailed instructions.

Day 21:Â Â

Rest

Â

Enjoy the journey,

Betsy