do you keep all of your important financial information?
-In a cabinet stuffed with unmarked
-In a cardboard box full of unmanageable
-In an old Cleveland Indian's suitcase
like my dad once did (odd but true)?
are multiple problems with any of these: clutter, disorder, locatability. In
the event of your death, they all create stress and effort for your loved ones
there is a solution, as Henry Hebeler recently suggested at Market
Watch. His solution is the darkly named, "Death Book."
Book is a book (e.g., a binder) prominently labeled "Death Book" that contains information
on financial matters and necessary
actions. For a young and newly married couple, it might only be a couple pages.
For an older, retired couple, it should be more complete and, at some point,
copied for children and executors.
highlights 5 important parts of the Death Book. They include:
Hebeler makes annual updates and adds that he keeps his financial
information protected with a strong password that's located in a safe deposit box.
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