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How to get your family protected in case something happens

If something unfortunately tragic happened to you or your significant other, what would happen then? 

If you handled all the finances and accounts for the household, who would your surviving relatives call and what would they do. Do they even know all of the accounts you have open and who to contact for access?keep-calm-and-protect-family

A couple of years ago, my wife asked me a very solid question that made me think. She said, “If something were to happen to you, I would not know who to call or what would happen for me to get access to any of your accounts. I don’t even think I know all the accounts you have.”

When she said this, it made me think, if G-d forbid, something were to happen to me, then the last thing I would want to happen to her is to stress about figuring out our accounts, my business, and everything else. 

I decided to create a document that, if something happened to me, then she could take this document and give it to my brother so he could execute it. The document has every account, my social, account user names, account passwords, and who to contact. The document was set up so that, in the unfortunate situation of me passing, then the stress of her dealing with anything business or financial related will be stress free. 

I printed 2 copies of this document, and I even have it on a USB flash drive, which I update at the end of every year with new accounts, new passwords, etc. I don’t keep any of these documents in my house, and the drive is stored at a bank so if our house were to burn down today, then I would still have access to this drive and the documents. 

Here is an example of what the document looks like so you can create your own so your family would be protected in the case of an emergency. 

—————————————————————————————————————————

FULL NAME  —DATE OF BIRTH —SOCIAL SECURITY NUMBER — Passport Number
FULL NAME  —
DATE OF BIRTH —SOCIAL SECURITY NUMBER — Passport Number

Business – If something were to happen to me, please contact XXXXX at XXX-XXX-XXXX and tell him the situation. He knows I would only want the best of the best chiropractor to buy the practice so my patients can continue their care knowing the best person is coming in. He will help with a price for the practice and take care of the rest. 

Also, please contact our lawyer XXXXXX at 123-456-7890 to execute the Power of Attorney. If you cannot reach this attorney then call XXXX at 123-456-7890

Financial Accounts – 

Call our accountant XXXX XXX at 123-456-7890 and let him know the situation. Tell him you are getting access to all of my accounts and updating the banks about my passing.

BANKING
BANK NAME —XXXXXXX   XXXXX
BANK CONTACT — XXXXX
ONLINE USERNAME –
ONLINE PASSWORD –
Personal Checking – 1234456789 – Amount as of 12/31/2014 = $XXX
Personal Savings – 1234456789 – Amount as of 12/31/2014 = $XXX
Business Checking – 1234456789 – Amount as of 12/31/2014 = $XXX
Business Savings – 1234456789 – Amount as of 12/31/2014 = $XXX

FINANCIAL PLANNER 

Company
Name –
Contact –
ONLINE USERNAME –
ONLINE PASSWORD –
Business 401K – 1234456789 – Amount as of 12/31/2014 = $XXX
SEP IRA – 1234456789 – Amount as of 12/31/2014 = $XXX
JOINT STOCKS – 1234456789 – Amount as of 12/31/2014 = $XXX

LOANS
ONLINE USERNAME –
ONLINE PASSWORD –
Mortgage – – 1234456789 – Amount due as of 12/31/2014 = $XXX
Auto – – 1234456789 – Amount remaining as of 12/31/2014 = $XXX

INSURANCE
Company –
Name –
Contact –
ONLINE USERNAME –
ONLINE PASSWORD –
Whole Life Insurance – Policy #123456789 – Death Benefit = $
Term Insurance – Policy #123456789 – Death Benefit = $
Auto Insurance – Policy #123456789
Home – Policy #123456789
Disability – Policy #123456789

AMERICAN EXPRESS CREDIT CARDS
ONLINE USERNAME –
ONLINE PASSWORD –
Cohen Personal – CC# – 1234-56789-1222
Austin Business –  CC# – 1234-56789-1222
Shira Business –  CC# – 1234-56789-1222

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