Simply Organizing Your Vital Records
By Diane Hatcher, Timesavers Services

Let’s play a game. I ask you where your vital records and legal documents are, and you respond within 5 seconds.
Birth certificates for everyone in the family; social security cards for each family member; marriage certificate; divorce decree; life insurance policies; stock and bond certificates; tax returns for the past 7 years; property deeds, automobile titles; wills and trusts; death certificates; passports; computer passwords; safe deposit box keys.

Were you able to answer each question within 5 seconds? Was the answer always the same? (Hopefully not).
You may have other legal documents besides the ones listed.

We realized after Hurricane Andrew and more recently after the events of 9/11/01, that it is critical to know what documents we have and where to find them. More importantly, if something were to happen to you, how would the people who need your records find them? According to Anne Hilker, a trusts and estates attorney with Rosenman and Cohn in New York, we also realized we are still a “hard copy” society for basic information.

In order to make life easier for you and your survivors in case of a death, catastrophe or unexpected emergency, something can be done now. Although some of these records could be replaced if lost or destroyed, government entities can take weeks to provide replacements, causing delays and unnerving your loved ones.

First you must determine what to keep and for how long. This is where experts vary. Therefore professional organizers suggest you make a list of questions about specific documents. Ask your personal financial planner, CPA or attorney what he/she recommends is best for you.

Where to Keep Them

Start off by making a “vital documents list” of what items you have (such as those named previously) and where they are being kept. Include policy numbers, names, beneficiaries and amounts. Also include photocopies of everything in your wallet. Give a paper copy to your lawyer, a sibling, adult child or trusted friend. File a copy. Avoid giving out too many copies of your power of attorney as it could allow access to the wrong person to take over your financial life. (Jane Cole’s Very Important Papers “VIP” book consolidates all this information into one notebook, simplifying the process. It is available thorough my website).

Home is better for some documents. Records such as wills, powers of attorney, trusts, life insurance policies and passports are best kept in a fireproof lock box or safe. This provides easy access to family members. A record of home improvements for cost-basis purposes, home business records, birth and marriage certificates, and social security info can be kept here along with your “vital documents list.”

Your broker’s vault is best for securities. He/she needs the original document to complete any transactions.

Safe deposit boxes can hold documents you don’t access often. These include birth certificates, property deeds and automobile titles for example.

Scanning documents into a home computer can be useful for tracking down an original document. It will not contain the raised seal if printed so cannot be used for official business. Your “vital documents list” can be kept in your computer, backed up on a disc.

You may know where all your life documents are, however, in many cases, no one else does. Following these few simple suggestions will save the rest of the family major hassles in times of crisis.

Happy Organizing!!

Diane Hatcher is a professional organizer, and owner of Timesavers Services in Cooper City. She can be reached at 954-252-7511, or at diane@timesaversusa.com.