Not many people in Connecticut have an emergency financial file, but it’s essential for reducing stress during disasters and after your death. You save time and money by creating an emergency financial file too.
Natural disasters and evacuation orders
You need to have a go-bag (also known as a “bug-out” bag) ready for emergencies such as an evacuation order or damage to your home. An emergency financial file is one of the things that you’ll want to bring with you if you need to leave your home quickly. You wouldn’t want to leave without your insurance policy information, Social Security card, birth certificate and other important documents. It takes time to get a new Social Security card and birth certificate. You also don’t need that added stress when restoring your life after a disaster.
You will save your loved ones time by creating an emergency financial file. When people are grieving, it’s even harder for them to search for all the documents they need to process your estate. They need time to go through the grieving process properly. By preparing a financial file and other aspects of estate planning, you give them much-needed space and ease their burdens.
Creating an emergency financial file
Find a suitable folder for storing your essential documents, such as a waterproof and fireproof accordion folder.
Documents to add to the folder include:
- Will and estate plan
- Financial account information
- Mortgage documents
- All debts and liabilities
- Insurance policies
- Deeds and titles
- Education accounts and documents
- Social Security card
- Birth certificate
- Important medical documents
- Emergency contact information
- Passwords and PINs
Everyone should have an easily-accessed emergency file of important financial documents. This helps loved ones after your death. It also makes life easier on you when you need to leave your home because of a disaster.