The first things you might think about when disaster strikes are the health and safety of your loved ones, the structural integrity of your home, and weathering the disaster in such a way that the least amount of harm or unrest comes to those you love. After the immediate danger has passed, you may need quick access to important files – these can help you start the recovery process quickly and efficiently. Of course, the best plans are laid before they are needed, and creating and maintaining an emergency file of important documents, including life insurance documents, medical records, and military service records, is a great place to start.
When you need to access important files, the last thing you want is to have to search for them. Keeping hard copies stored in a safe, fireproof location and keeping electronic copies available on your phone or in the cloud can reduce anxiety when access is needed quickly. In addition to having a plan for how to store these documents, it’s important to have a plan for how your spouse, children, or beneficiary can access them should you become incapacitated and unable to do so yourself.
A good way to start creating a plan for your emergency files is to ask yourself, “In an emergency, would my loved ones know where to find the files they need?” Consider a variety of emergencies – they may need access to a birth certificate or passport, a home or life insurance policy document, or a vaccine record. If the answer is that no, they wouldn’t know where to look — or even possibly no — it is time for a new approach.
Identify which files you need.
Sorting through all of your documents can take a while. While it can feel tedious, spending time on these documents now is going to make your life, and the lives of your family members and loved ones, easier in the long run.
The following list is not all-inclusive – there may be files that apply to your family or situation that may not apply to others. However, it’s a good place to start; this list identifies documents that are often important, apply to most people, and should help pull you through many emergencies. As you sort through your files, put aside anything that looks important that you could see yourself needing in the future – it’s better to have too large of a file than too small of one.
- Birth and Death Certificates
- Wills and Trusts
- Financial Records, including bank, retirement, and investment account statements
- Previous Income Tax Returns
- Insurance Policies (Life, Home, Vehicle)
- With insurance policies, consider a list of valuables that are stored in your home and photos of your belongings.
- Mortgage Statements or Lease/Rental Agreements
- House and Vehicle Deeds
- Advance Medical Directives and Powers of Attorney
- Summary of VA Benefits
- DD Form 214
- Social Security Administration Summary of Benefits
- Marriage Certificates and Divorce Decrees
- Adoption Papers
- Naturalization Papers
- Vehicle Title and Registration Papers
- Leave and Earnings Statement (LES) or Retiree Account Statement (RAS)
- Medical Treatment Records
The way you organize your files is up to you — whether in a binder or through a folder system — but it’s important to keep it portable and contained. If you need help getting started, consider using our Survivor Checklist, Estate Planning Checklist, or Estate Planning Personal Log as reference.
Keep original files in a single location.
Keep original documents together in a single, safe storage location. Many families purchase a fireproof and waterproof box or safe for this purpose. Another popular choice for many is a safety deposit box at a bank. However, if you or a family member needs access to the files with any frequency, a safety deposit box may be impractical. Original documents may be requested by agencies or companies for a variety of purposes and keeping documents close to home may be simpler.
You should also keep a digital record – store scanned images of each document on the cloud (password protected!) – and consider placing a hard-copy folder of photocopies in an easily accessible location, like a locked drawer or cabinet in your home. This lets you access and review the information as needed without putting the original files at risk.
Note: Storing your documents in a secure location is at the heart of any emergency plan. If you’d like to use the Navy Mutual vault, we have made it available to Members to utilize. Stored in our facility, your files will be watched over like they were our own. For more information about the Navy Mutual vault, contact our Customer Service Department at 800-628-6011.
Share the storage location with those who need to know.
Let your spouse, adult children, or beneficiaries know where these important documents are kept and provide them with any access information, passwords, PINs, or codes necessary. Have duplicates of access keys made if your documents are stored in a safe or safety deposit box. Make sure keys are labeled clearly and that your spouse or beneficiary knows which access codes to use for various locks. An understanding should also be reached between you and your spouse, children, or beneficiary on when it is appropriate for them to access your documents.
Review regularly.
Review your documents regularly to make sure they are up to date. Shred out-of-date documents to cut down on clutter and confusion should they need to be sorted through after your passing or incapacitation. Note that you should only dispose of out-of-date documents if you are completely sure that you will not use them again. As a rule of thumb, the IRS recommends keeping a copy of your tax records for seven years from the date of filing. Insurance policies and account statements may be refreshed annually, similarly to rental agreements. However, some original documents should never be discarded, including birth certificates, marriage certificates, and divorce decrees.
With regards to estate planning, you’ll want to keep the most up-to-date versions of wills, trust documents, powers of attorney, and advance medical directives stored in your files. Once a new version is drafted and notarized, the previous version should be declared null and void and removed from your collection of files. A lawyer can advise you as to whether you should retain previous versions of these documents.
Remember, in addition to ensuring that your collection of original documents is up to date, this review also applies to any additional physical or digital backup copies.
Whether you are preparing your important files for yourself or acting on behalf of a loved one, Navy Mutual is here to help. We can help you and your beneficiaries navigate a loved one’s death and identify needed documents to make the experience as smooth as possible. If you’d like to speak with a representative about your life insurance options, you can reach us at 800-628-6011 or schedule an appointment online.