Business News

Do I Need an Emergency List?

 

We frequently have questions related to the practical and financial panic after a death in the family when accounts, passwords, and assets are unknown. Sometimes, a family knows an estate plan was done but they cannot find the plan and don’t even know the law firm that drafted the plan. An emergency list can help to avoid these issues.

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We often see people lose their spouse, and have no idea how to access bank accounts, pay their bills, or even know what retirement accounts exist.

Because of this, we often recommend that clients compile a list of important assets, passwords, locations of important documents, etc.

In the event of an emergency, incapacitation, or even death, this list can help.

So what should you have on this emergency list?

  • If you work with any professional, such as your lawyers, physicians, financial advisors, etc., put their contact information on the list so that your loved ones can reach out to them, if necessary.
  • A list of all of your assets and how you can access them. Don’t forget to include pension information, retirement accounts, bank accounts, etc.
  • Put information about the location of your estate firm and contact information from the lawyer that drafted it.
  • Put information as to where all of your important documents are kept, such as your vehicle titles, deeds, Social Security cards, etc.

In an emergency situation, people don’t want to be scrambling to find important documents.

Life is full of uncertainties, but careful planning can help lessen the burden when you are already going through a tough situation.

Having a complete list can be incredibly helpful to your loved ones. It also ensures that your estate plan will be placed and carried out as intended.

It is also important to remember to update the list as your assets change. Keep the list current to eliminate confusion.

If you need help with your estate plan or creating an emergency list, we can help.

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

We publish vital information every Wednesday and Friday. To get this important information delivered directly to your mailbox,

Contact us today with all your legal needs!

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