Important documents have a way of ending up in different places. Some may be stored in a filing cabinet, others in a safe, and still others online. Over time, it can become difficult for anyone other than you to know what exists—or where to find it.
Keeping important information organized can make things easier for you today and for the people you trust if they ever need to locate something on your behalf.
You don't necessarily need to keep every document together. What matters is making sure the right people know what exists, where it is kept and who to contact when questions arise.
Estate planning documents are among the most important records for family members or other trusted individuals to be able to locate.
Depending on your circumstances, these may include:
Original documents may need to be kept in a particular location, so consider making sure the appropriate person knows where they are stored and how they can be accessed when necessary.
Estate laws and document requirements vary, so questions about creating, updating or storing legal documents should be discussed with a qualified attorney.
Family members may know that you have life insurance or an annuity without knowing which insurance company issued the policy or contract.
Consider keeping a record of:
For privacy and security, avoid including full policy or contract numbers on a basic family information sheet. The goal is to provide enough information for the appropriate person to know where to begin.
Beneficiary designations are also worth reviewing periodically, particularly after major life events such as a marriage, divorce, birth or death.
A household may accumulate financial relationships with several institutions over the years.
A simple inventory can identify where accounts are held without recording sensitive account information.
That might include:
Recording the name of the institution, type of account and appropriate contact information may be enough to help someone locate what they need later.
Important records aren't limited to financial accounts.
Your family may also need to know where to find documents related to your home and other property, including:
Some of these documents may already be available electronically, but it can still be helpful to identify where they are maintained.
Healthcare information can become particularly important during retirement.
Consider organizing information about:
The purpose isn't to create a complete medical record. It's simply to make important contacts and coverage information easier to locate when needed.
Tax returns and supporting documents are another category families may need to locate.
Keeping recent tax records organized—and identifying the CPA, tax professional or tax-preparation service you use—can make it easier to answer questions or locate prior filings.
A tax professional can provide guidance about which tax documents should be retained and for how long based on your individual circumstances.
Sometimes knowing who to call is just as valuable as knowing where a document is located.
Consider maintaining current contact information for professionals such as your:
If a family member eventually needs assistance understanding a document or account, these contacts can provide an important starting point.
An organizer designed to help your family locate important information should not become a collection of sensitive personal data.
Avoid writing down information such as:
Passwords and other digital credentials should be handled through an appropriate secure method rather than included on a general household information sheet.
Organization isn't necessarily a one-time project.
Accounts change. Policies are updated. Professionals retire. Beneficiaries change. Documents move.
Taking a few minutes periodically to review your information can help ensure that what you've recorded remains useful and current.
It may also be helpful to tell a spouse, adult child, executor, trustee or another trusted person that an organizer exists and where it can be found.
You don't need to organize everything at once.
Start by identifying the documents, accounts and professional contacts that would be most important for someone to locate. Then create a simple record of what you have and where to find it.
CDA offers a collection of complimentary planning tools and checklists designed to help you organize important information, think through retirement details and plan for what's ahead. The collection includes our My Important Information Organizer, along with retirement planning, financial organization, lifestyle and monthly budgeting tools.