If you were suddenly ill or hospitalized, could someone you trust find your insurance cards, pay your bills or know your wishes? Getting your papers in order is one of the kindest things you can do for yourself and your family. It also makes everyday tasks, like applying for benefits or filing taxes, much easier.
The checklist
Personal and identification
- Birth certificate.
- Social Security card and Medicare card.
- Driver's license or state ID, and passport.
- Marriage certificate, divorce decree or a spouse's death certificate.
- Military discharge papers (DD-214), if you served.
Financial
- A list of bank, credit union, brokerage and retirement accounts, with institution names and contact details.
- Pension and annuity information.
- Social Security benefit letters.
- Recent tax returns. The IRS generally recommends keeping returns and supporting records for at least three years, and longer in some situations.
- Credit cards and loans, including mortgage information.
- A list of regular bills and how they are paid.
Insurance
- Health insurance: Medicare, Medigap, Medicare Advantage, Part D and any retiree coverage.
- Life, long-term care, homeowners or renters, and auto insurance policies.
Property
- Deeds, mortgage papers and property tax records.
- Vehicle titles and registrations.
- Records of home improvements, which can matter for taxes when you sell.
Legal and health care wishes
- Will and any trust documents.
- Durable power of attorney for finances.
- Health care power of attorney or proxy, and a living will or advance directive.
- HIPAA authorization, so chosen people can talk with your doctors.
- Funeral and burial wishes, and any prepaid plans.
Medical
- A list of doctors, medicines, allergies and health conditions.
- Pharmacy information.
Digital life
- A list of online accounts, such as email, banking and social media, and where your passwords are stored. A password manager or a written list kept in a safe place can help.
Where to keep everything
- A fireproof, waterproof home safe or file box for originals you may need quickly.
- A safe deposit box for items you rarely need, such as deeds. Do not store your only copy of a will or power of attorney there unless someone else has access.
- Copies with a trusted person, your attorney or in a secure digital file.
Let at least one trusted person know where your documents are and how to reach your attorney, financial adviser and doctors.
Check your beneficiaries
Retirement accounts, life insurance and some bank accounts pass to the beneficiaries you named on the account, not through your will. Review them after major life events, such as a marriage, divorce or death, and at least once a year.
Keep it current
Set a yearly reminder, for example on your birthday or in January when tax documents arrive, to update your lists and remove old papers. Shred documents with personal information you no longer need.
Talk about it
A short conversation with your family about where things are and what you want can prevent confusion and conflict later. It does not have to be grim; many families find it a relief.
For more on planning ahead, read planning for long-term care costs.
