It’s hard to think straight when the unimaginable strikes. A job loss, a hospital stay, a bleak diagnosis, or an unexpected death – all of the above throw us for a loop physically, emotionally, mentally, and financially. Simple everyday experiences like eating and sleeping are difficult enough during trying times. Tracking down and following higher executive levels of thinking to do things like bill pay or locate essential documents becomes near impossible.
Especially if the loved ones in your family don’t participate in the day to day operations of your household finances, you need to prepare in advance for the worst. While it’s not pleasant to think about, knowing where important documents are located will relieve your family during times of trouble. Here’s what you need to be sure to include in an “In Case of Emergency” Folder.
Important Names and Numbers
Address books are quickly becoming a thing of the past. And while the contact information in phones can easily be accessed by users, it might prove challenging for those who don’t know passcodes and shorthand for important information. For this reason, it’s wise to compile a quick document both in hard copy and digital form that contains important information for individuals in your family. Here are important details to be sure to remember:
- Full names with correct spelling
- Home and work phone numbers
- Current addresses
- Emergency contacts – names, phone numbers, and emails
- Employers’ and work contacts’ information
Medical Information
Times of crisis make most of us draw a blank. Especially when it comes to medical information like prescription drugs and allergies, time is of an essence. Before you end up in a panic, create a document that fills in the blanks that are so easy to forget. Be sure to consider including the following.
- Current doctors’ contact information including full names, address, phone, website, and email
- A short medical history including hospital stays and injuries
- A list of all prescriptions, OTC medicines, and supplements taken by each member of your family along with dosage
- Blood type
- Drug and food allergies
- HSA login and password
- Insurance ID information
- Hospital or doctor’s office online login information
- Pharmacy information including online login info and address
- Any current treatments or ongoing conditions
- A brief family medical history
- Links to or a hard copy of immunization records
Household Information
Bill pay typically falls on the shoulders of one member of a household. This could mean that passwords, account balances, and due dates are unknown to other individuals. Items like warranties for appliances might also be difficult to locate. For this reason, it’s wise to centralize this information in one place, too. Gathering essential items like these could prove to be helpful:
- Insurance agent contact information
- Life insurance login information
- Car insurance login information
- Homeowners’ insurance information
- Household warranties
- A list of bills and due dates, including those that are paid on an annual or biannual basis
- Title/Deeds for property owned, both real estate and vehicular
Legal Documents
In cases of extreme emergencies, you’ll need much more than a mere phone number. You’ll require access to documents that allow you to make legal decisions or explain your wishes in case the unthinkable happens. Include the following in your folder and any other pertinent legal documents.
- Wills
- Power of Attorney information
- Lawyer’s contact information (if you have one)
- Custody agreements
Financial Documents
Last, but certainly not least, you need an organized picture of your current financial situation. There might be some overlap here with the household information. Be sure to include as much information as possible in case your spouse needs to access accounts.
- A list of the contents of your wallet, along with account numbers and where you call to cancel your debit card(s)
- Login information for all bank accounts
- Login information for all retirement/investment accounts
- A list of assets and liabilities
- Phone number and contact information of your accountant or tax preparer
One final note: this is obviously an enormous amount of extremely sensitive information. You may consider handwriting the majority of this information rather than using any sort of online document. Once you’ve compiled your folder, be sure to keep it in a safe place like a fireproof box. Lock the contents if at all possible. You may also want to consider making a copy of all information and placing it in the care of a trusted advisor or in a safety deposit box. Be smart about where you place your In Case of Emergency folder. You’ll want to be sure no one accesses it without your permission.
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