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At Andrews Terry Jeffers LLP,
Trust Is Everything

Create a financial file today in Washington

On Behalf of | Mar 30, 2023 | Estate Planning and Probate |

The Washington Department of Revenue operates a fund where people can locate money they have forgotten about or that should have been accounted for in a relative’s estate. Creating a financial file can help stop this issue and relieve stress should a natural disaster occur or at the time of your death. The file should contain several vital pieces of information.

Cover letter

The file should start with a cover letter containing information about the file’s contents. This is a quick overview so people know they are in the right place.

Financial information

The file should include information about any financial accounts in your name, including any information, such as username and password, needed to access them. Be sure to list the exact name on the account and its location. This should include your bank and retirement accounts, stock funds, and other account types.

Your will

The file should also include a copy of your will and other estate planning details. If you have created trusts, this information must also be in there. Furthermore, the file should list your executor and their contact information.

Vital legal documents

This financial file section will vary slightly from one person to the next. It should have your birth certificate, social security card, insurance information, deeds and titles. You can include the actual document or a photocopy with details about the location of the originals.

Contact information

Make a list of the professionals you use, such as your lawyer, doctor and optometrist. If you are employed, include contact information for your supervisor. You will also want to make a list of people who need to be notified if something happens to you.

One of the most loving things you can do for your family is to create an emergency financial file containing vital information you keep updated regularly.