Now Where is that Document? Organizing Your Records

If you or a member of your immediate or extended family faced an emergency, how easily could you locate the necessary medical or financial records? Would they even know where to start? Organized records are important for both you and your family members. Letting your family know how and where they can find vital documents may be even more important.

The type of system a family uses to organize important information is less important than the family’s commitment to use the system. The following steps can help you evaluate your present system and/or design a more effective one.

Choose one place to keep records. A file cabinet or drawer(s) near a table or desk is the preferred location for many families.

Decide who is responsible for recordkeeping. Everyone needs to know how to find information easily, but having one person take leadership often helps ensure that the task gets done.

Develop a regular schedule for keeping records up-to-date. Make appointments with yourself to pay bills, balance the checkbook, file receipts and clean out old files. Enlist other family members to help as appropriate.

Organize categories to include current family and financial records as well as permanent records. Which information needs to be most easily accessed?

Share a list of your important information with your family members. Ask them to make a similar list for you.

Sort records between current and permanent files. The current records files will contain such things as bills to be paid, papers to file, current income records, receipts, and correspondence. Permanent files are those items most likely to be needed in time of crisis. Examples include insurance policies, property records, military discharge records, and health records.

One way to make sure that all of your important records are easily retrievable is to encourage each family unit to make a master sheet listing where specific records are kept.

Sharing Secrets is a one page worksheet available from the UW-Extension office that may be used for this purpose. Download “Sharing Secrets” here.

To create your own system of organizing records consider each of the categories below and add or subtract from the list to meet your personal needs.

Quick reference – list of family members, contacts and location of documents

Family information –health records, social security numbers, education, military and employment records NOTE: be sure to keep these documents secure! Especially those containing your social security number

Property-checking and saving account numbers and locations, vehicles, real estate, investments other personal property

Insurance-policy names, contact and locations for insurance

Financial records – loans, income and tax history, credit cards, social security, net worth statement

Retirement-tax-deferred retirement plans, individual retirement accounts, pensions

Estate planning – advance directives, will trusts, distribution of personal property, end –o-life instructions

Inventories-what to find in safe deposit box, wallet, household inventory.

And finally, remember not all documents need to be kept forever. Periodically review your documents disposing of those no longer current. Download a copy of “How long do I keep household records” as a quick reference.

Additional information on record keeping, including a workbook for organizing your records is available at the UW-Extension office – phone: 232-1973, e-mail: ckniep@co.winnebago.wi.us