ORGANIZING RECORDS AND LEGAL DOCUMENTS

Before a crisis arises, it’s a good idea to take time to prepare personal and financial records. Gathering vital information can be of great benefit to both parents and their adult children. Although each situation is different, the following suggestions will give you an idea of what type of information may be needed.

Personal Records

• Full legal name
• Names of parents (maternal and paternal)
• Social Security number
• Legal residence
• Date and place of birth
• Names and addresses of spouse and children (or location of death certificates if any are deceased)
• Location of will or trust
• Location of birth certificate, certificates of marriage, and divorce and citizenship papers (if applicable)
• List of employers and dates of employment
• Education and military records
• Religious affiliation, name of church or synagogue, and names of clergy (if desired)
• Memberships in organizations and awards received
• Names and addresses of close friends, relatives, doctors, lawyers and financial advisors
• Requests, preferences, or pre-arrangements for burial

Financial Records

• Sources of income and assets (pension funds, interest income, etc.)
• Social Security and Medicare information
• Insurance information (life, health, and property) and policy numbers
• Bank accounts (checking, savings and credit union)
• Location of safe deposit boxes
• Liabilities – what is owed to whom and when payments are due (including mortgages, taxes, etc.)
• Copies of recent tax-year returns
• Location of personal items (such as jewelry or family heirlooms)
Legal Considerations
• Power of Attorney
A legal document in which one individual (the “principal”) authorizes another person to act on behalf of the principal in personal or financial matters.
• Durable Power of Attorney
Similar provisions as a standard power of attorney, but remains in force if the principal becomes incapacitated.
• Will
A legal document expressing an individual’s wishes regarding the distribution or sale of that person’s property upon death.

Note: It is advisable to consult a lawyer for a more thorough understanding of various legal documents and their provisions. Be sure the lawyer you choose is familiar with the laws in your particular state.
Our thanks to The CAPSule, published by Children of Aging Parents, for permission to reprint portions of an article entitled: “Getting Your Affairs In Order.” CAPS is a non-profit organization located at 2761 Trenton Road, Levittown, PA 19056.