Jul 15, 2014

Financial Information for Family

  1. "Organize documents that will give your kids a snapshot of your current situation, such as your will or trust, living will, powers of attorney (financial and medical) and insurance policies." aarp.org

    With 1/3 of caregivers dying before the care receiver, we need to also keep in mind organizing our financial records so that our children can take over if necessary by our death.  AARP recommends making a binder for each child with the following information:  will or trust, living wills (both financial and medical), insurance policies, powers of attorney, bank account information, burial and funeral wishes, list of names of family members and advisers' contact information.  While compiling these binders, I recommend that we make one for ourselves too, so that we have all relevant information at our fingertips.  

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