Important Papers

A few days ago I was on the phone resolving some issues in regard to my mom’s estate.  I was being transferred back and forth between three or four different departments of one company. This was the fourth set of calls I have made since my mom had passed away back in September 2011. I was aggravated, but it could have been worse.  At least I knew who to call to begin with.

My mom had always been really good about keeping a list of all important numbers, accounts, financial information and who to call in case of an emergency. I also knew where my parents’ important papers were. This list would be shared with me every time my parents made plans to go away. They also reiterated every time that I was the executor of their estate if they both went down while flying. I was also given Power of Attorney.  I am fortunate that my parents chose to trust me with this responsibility.

In my daily course of business, I usually hear at some point, “Someday I will get to it,” or something along the lines of “My spouse does not want to know anything about our finances and so I take care of it all,”  or “I do not want anyone knowing my information, especially my immediate family.”

No one likes talking about death or long term illness. If you care about your loved ones, it would be prudent of you to let them know where you keep important information. And if you are on the other side of the line, not wanting to know about this information, being ignorant will not be bliss in the event that something horrific happens to a family member.

I have heard some really rough stories pertaining to these
situations, and am very thankful that my parents had an open line of
communication with my siblings and me. As my mom’s health deteriorated, and she could not take care of her accounts or finances due to her illness, we were able to take over, with a lo tless complication than if we knew nothing or had to search for information.

In my next blog posts, I will include information on what to keep a list of, where to keep it, and some information about power of attorney
and wills (from a layman’s standpoint.)