Family Binder/Legacy Drawer

Family Binder

I encourage everyone to have a family binder or folder with important documents and information.

Here's one idea.  I would suggest adding passwords & dates and accounts for automatic payments.

Whether you are single or married, with kids or without, young or old everyone should have some basic information written down in a safe, but accessible place.  If something would happen to you, would anyone know the information to help you in the hospital or take care of final decisions?  It's not something anyone wants to think about, but it's inevitable that everyone will pass away unless Christ returns first.  Why not make this hard time a little easier for your family/friends.

I have attached 2 suggestions below for ideas to get you started.

We have folders with our insurance, wills, POAs, important papers, etc locked up.  We also have all account numbers, log ins, written down for both of us.  I have a list of auto payment - when & what account they come out of.

I also just learned you can set a Legacy Contact in your Facebook account.  Then if you pass away & Facebook memorializes your account, the person you designation can still access your account.  Go to settings, account settings, general, manage account, & set your Legacy Contact.

I encourage everyone do this & tell someone they trust where the info is located.


Family Binder
Here's a link to some printable forms.


Dave Ramsey Legacy Drawer

We recommend that your Legacy Drawer contain 11 things. Although it may seem daunting to gather all of this material together, you will be happy you did once the Legacy Drawer is created.

1. Cover Letter – This is simply a letter stating the purpose of the Legacy Drawer. Nothing fancy, just a way to introduce your loved ones to the contents of the drawer.
    
2. Will and Estate Plans – All information pertaining to your will and estate, including names of the executor and Power of Attorney should be located in one file.
    
3. Financial Account – Anything that has money in it and your name on it should be listed in the Legacy Drawer. This includes account names, amount and account numbers.
    
4. Funeral Instructions – All details and specifications for funeral plans should be listed so the family can fulfill your wishes. If you are married, you need one for you and one for your spouse.
    
5. Insurance Policies – All insurance information, including health, car, disability, term life, etc., should be combined into one single document for easy reference. List the type of insurance, who the policy is for, contact information and policy numbers.
    
6. Important Documents – Any legal or other important documents you have should be noted in the file. This includes deeds, birth certificates, Social Security cards and titles.
    
7. Legacy Letters – Since the intention behind the Legacy Drawer is to keep your legacy going after you've passed away, it's a great idea to include letters to your loved ones.
    
8. Monthly Budget – Add a copy of your written budget, so your spouse or loved ones know how to operate your household once you're gone. This will help your family keep track of bills and focus on more important things.
    
9. Tax Returns – Keeping tax returns in your Legacy Drawer is like an insurance policy for yourself in the event that you get audited from the IRS. Hopefully you never have to pull them out, but if you do, at least you are prepared.
    
10. Safe Deposit Box – Keep copies of all your Legacy Drawer papers in a safe deposit box—you can never be too careful. Include information in your Legacy Drawer on where your safe deposit box is and who has access to it.
     
11. Passwords – Write down all passwords, combinations, usernames and PIN numbers. This information allows your loved ones access to any documents, money or information that is left when you are gone.

If you put your mind to it, you can create your Legacy Drawer in 30 days! It's tedious to gather all of the documents and paperwork that goes into the drawer, but it's a necessary task in order to protect you and your family.