1st Thing to do in 2015 – Develop an “In Case of Emergency” Document

2014 was a big year for me personally. It was my first full year in retirement, we moved from Pennsylvania to Florida and I focused a great deal of time fine-tuning my retirement plans. This included an updated Revocable Living Trust, and a written 5 year financial, income, tax and expenses plan. One of the most important tasks was to create an “In Case of Emergency” document.

EmergencyThe “In Case of Emergency” document is a complete explanation of everything someone (like my wife, family or executor of my estate) would ever need to know about everything in my/our lives. It also includes immediate specific steps to take in case something happens to me or “us”. Keep in mind that the emergency may not be your death, but may be you becoming incapacitated, there is a difference.

It is an on-going document that is constantly being updated and enhanced. This document is stored on my computer, on a secure web site and in our safe deposit box. Every family member knows about it and understands what it is.

An “In Case of Emergency” document should include:

  • The location and attorney involved with the creation of our Revocable Living Trust, individual Wills, Durable Powers of Attorney, Healthcare Surrogate and other legal documents.
  • The names, account numbers, and contacts information for all bank accounts, investment accounts, pensions, and past/current employers. Also confirm the structure of each asset and in the case of IRA’s the beneficiary since these may fall outside of your Revocable Living Trust.
  • How income is generated, what steps are necessary to keep income coming in. Budget for living income and expenses. If you are still working, who at work to contact and what benefits might a spouse of a deceased worker get, like unused vacation pay, life insurance etc.
  • Location of safe deposit box and the location of the keys. It might be best to give multiple family members access to the box.
  • Business owned (if applicable) with complete details on tax and ownership structure, location of stock certificates and other important documents.
  • Birthdates, social security numbers and contact information for all family members.
  • The location of Tax records, past returns and contact information of tax preparer.
  • Social Security information. Explain if any benefits are currently being provided and the strategy for future benefits including how to file for Survivor benefits.
  • Your digital information including all login and passwords information, it’s best to have a software program or web site where these are stored and protected. All family members email accounts, your digital photographs, music, key documents on your computer and location of all back-ups.
  • Your home information, mortgage holder (if applicable), how payments get made, contact and account information for utilities, trash collectors, newspapers, landscaping and other service providers. How are property, school and other taxes paid?
  • Insurance information, including location of policies, account numbers, contacts, etc. Be sure to include homeowners, car, healthcare and life insurance
  • Automobile information, including loans (if applicable), location of title, registration #’s, license plate #’s etc.
  • List all healthcare providers like family doctors, insurance policy renewal information and an updated history of healthcare issues. Reference any Durable Powers of Attorney, Healthcare Surrogates and other healthcare information.
  • Credit Cards, loans and other obligations. List all account numbers, and toll free numbers to call to cancel cards or pay off balances.
  • Family cell phone accounts and structure of plans.
  • Churches, Clubs and organizations along with contact information
  • Neighbors and friends that should be notified with full contact information.

Finally, include a list of specific steps to immediately take in the days after an emergency.




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