Newsletters 2009 Newsletters Emergency Kit (9/11)
Friday, 11 September 2009 22:26
With the recent Station Fire close to home for all of us that live in the Los Angeles area (too close for some), we thought it would be a good time to remind our clients and friends about the importance of being adequately prepared in case of an emergency.
There are two types of emergencies that require our attention: Personal and Financial. A personal emergency requires us to call to mind the names and phone numbers of people to contact, medical insurance coverage, prescription and medication dosages, veterinarians, daycare providers, etc. Whereas, a financial emergency could call for bank and investment account information, loans and credit cards, mortgages, or professional service providers such as financial advisors, attorneys and accountants.
Creating a personal and financial emergency kit is a necessity and is something that should be discussed amongst all families. If you currently have an emergency kit or are planning to create one, be sure to clue your loved ones in to it’s contents and whereabouts. After all, when you build an emergency kit to keep your records organized, not only are you benefitting from the ease of access, but your loved ones will thank you too. Should anything ever happen to you, having your key documents and wishes prepared in a designated area will help your family and loved ones more easily carry out your requests.
To build an emergency kit, all you need is a binder along with some page protectors, if you have them. Page protectors will prevent you from having to punch holes in your documents. Make copies of any important records and documents you might need access to, inclusive of the following:
- Most recent tax returns
- Wills and or Trusts
- Car title and insurance
- Personal financial statements
- Insurance policies
- Investment and financial statements
- Deeds
- Loans
- Property titles
- An up to date list of advisors and health care providers
- Business ownership documents
- Power of Attorney forms
- Health Care Directives
- Up to date list of beneficiaries on any pension, annuity, insurance or retirement accounts
- A detailed list of important items that are not in the binder with instructions as to where they are kept.
In addition to the binder, you also might want to consider keeping a cell phone with a prepaid card, a few photos of each family member within the last year and a video tape of all the contents in your house for insurance purposes sealed in a waterproof bag that is kept in an easily accessible location in case of an earthquake, fire, hurricane or any other extreme disaster.
While we never ask for emergencies to happen, planning ahead will not only make life after these unforeseen events much less stressful and less expensive, but it will also make it easier to move forward with rebuilding and healing. Consider your loved ones when preparing an emergency kit and the amounts of emotional stress, time and legal burdens you’re relieving them of by taking action now.
We at ROIM have an emergency checklist that we’d be happy to provide you with upon request. In addition, please feel free to contact us should you need any further guidance on creating an emergency plan of your own.
If this notebook is kept up-to-date and organized, it will be one of the best gifts someone can give their heirs. Dealing with the death of a loved one is difficult enough, taking these steps can reduce the cost and emotional burden of administrating your estate.
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