Planning for the Future- Let’s Talk About It!
Getting Records in Order by Taking Inventory of Valuable Records
Rachel Lockwood
Family Consumer Science Extension Educator
Where are the valuable records?
Once the family has started talking about the future it is important to continue the lines of
communication on a regular basis. Following the initial conversation it is important to take an
inventory of valuable records. Taking an inventory of valuable records will continue the
conversation and may identify the need for more detailed information on a particular topic.
Learning where important documents are kept is critical for family members. For instance, in one
household the husband may have the role of dealing with financial affairs, but in another the wife
may take the lead in dealing with such matters. Whichever the preference it is very advantageous
for spouses as well as adult children to be aware of the location of valuable records whether it be
for online accounts, contact information for specific documents or simply the location of an
address book.
Financial advisors suggest that people keep three copies of all key documents: one in a safe
deposit box, one in parents’ files and another at their children’s homes or at their attorney’s
office. Passwords and user identifications for accounts need the strictest of privacy as used with
social cards, birth certificates, citizenship documents and military records. It is important to
entrust passwords and user identifications with a responsible family member or friend and
encourage them to keep documents in a safe deposit box or burglar proof safe. The important
point is to know where your parents’ important papers and financial accounts are located.
Advance preparation can eliminate paper chasing at a time of grief and stress.
Organizational Guides
Below is an explanation of the guides contained in this fact sheet. These guides can be utilized in
creating a will or trust.
Personal Information: this table requests the location of birth certificates, social security cards,
military records and citizenship documents. This information will help in the preparation of
income taxes, application for benefits or for family members interested in learning more about
their genealogy.
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Email Accounts: With the growth of the digital age comes the need for being aware of active
email accounts that parents may have. Email accounts are used for communication with family
members to receiving financial statements or bills. This could be very beneficial in the financial
operations of the household.
Important Advisers: Throughout life people use many different advisers from a religious adviser
to an accountant. This guide will help document the contact information for advisers the family
utilizes.
Property Records: Often time’s adult children are unaware of properties their parents have. This
document can provide more detailed information about property that may be owned or leased.
This guides also requests information related to location of titles, abstracts or contracts.
Banking, Savings, and Investments: This guide has space to provide for more details regarding
financial accounts/accounting. The guide requests information from the name of financial
institution to where the records are kept. This will be very beneficial in the financial operations
of the household.
Insurance (life, health, homeowner, renter’s, auto, etc.): This guide leads you through the steps
of identifying the types of policies held to the values of the policy. This will be very beneficial in
the health and financial operations of the household.
Other debt information: This guide can help identify what debts the family has, the contact
information as well as the location of the records. This can also be where loans can be listed that
has been provided to friends or family members.
Memberships in organizations and clubs: Many parents are involved in activities from church
committees to community clubs. Often times these special interest activities can provide great
psychosocial support to the aging parent.
Other Important Records: This list can help identify the location of records not mentioned in the
other guides. This list is divided into categories of safe keeping. Group A items generally should
be kept in a safe deposit box or fireproof and burglarproof home safe. Group B items can
generally be kept in a home file or business center, file drawer, CD, flash drive, desk, etc. Group
C items should be carried in a purse or wallet.
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Plan of Action for Taking Inventory of Valuable Records
Following the conversation and the development of a written agreement to capture the decisions and
agreements made, the next step needs to be locating valuable records. The following organizational guides go a
step farther in guiding family members through the process of locating and documenting important documents.
Documenting the location of important documents will also help families work together through the
transitioning process.
Name/Family:_________________________________________ Date:_______________________________
Copy 1 Stored:________________________________ Copy 2 Stored:________________________________
Safe Deposit Box #:_________________ At:____________________________ Key:_____________________
Personal Information
Family
Member
Name
Birth Date
Location of
Birth
Certificate*
Social
Security
Number*
Location of
Location
Social
of
Security Card Citizenship
Documents
Location of
Military
Records
*While adults and responsible youth can carry Social Security cards in their purses or wallets, it may be advisable to keep them in a
safer location until they are needed. Birth certificates should be kept in a safe deposit box or fireproof and burglarproof home safe.
Email Accounts
Family Member
Name
Website
E-mail
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User
Identification
Password
Important Advisers
Type
Name
Email
Address
Accountant or Tax
Adviser
Agents (Powers of
Attorney)
Health
Financial
Bank or Trust officer
Employer, Personnel
Officer, or Business
Manager
Executors (wills)
Insurance Agents
Auto
Home
Health
Life
Physicians
Religious Adviser
Stockbroker,
Financial Planner, or
Investment Adviser
Trustee (Trusts)
Veterinarian
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Office Telephone
Cell Phone
Banking, Savings, and Investments
Additional Information (if appropriate)
Type
Financial
Institution or
Company
Address
and
Owners
Telephone
Location
of
Records*
Personal
Identification
(PIN)
Number
Bonds,
Treasury, Bills,
etc.
Certificates of
Deposit
Checking
Accounts
Money Market
Accounts
Savings
Accounts
Software
(Paypal,
Quickbooks,
Quicken,
Excel, etc.)
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Beneficiary
Prices
and
Values
Dates (Purchase, Maturity,
etc.)
Banking, Savings, and Investments
Additional Information (if appropriate)
Type
Financial
Institution or
Company
Address
and
Owners
Telephone
Location
of
Records*
Personal
Identification
(PIN)
Number
Beneficiary
Prices
and
Values
Dates (Purchase, Maturity,
etc.)
Stocks, Mutual
Funds,
Investment
Trusts, etc.
Individual
Retirement
Accounts
(IRAs),
KEOGH
Accounts,
Retirement
Plans,
Pensions, etc.
Other:
*Some savings and investment (proof of ownership and other financial records that would be difficult and/or costly to replace, or that could be transferred or
accessed illegally in the case of loss or theft) should be kept in a safe deposit box or fireproof and burglarproof home safe. Monthly, quarterly, or annual
statements and canceled checks, which generally can be replaced, may be kept in a home business center, file drawer, flash drive, CD, desk, etc.
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Property Records
Type
Owners
Type of
Ownership
Date Acquired
Location and
Description
Location of
Title/Abstract &
Ownership/Lease
Information*
Additional
Information
Motor Vehicles
Real Estate:
Residences
Business
Vacation
Mineral Rights:
*Titles, deeds, leases and other important ownership information (including documentation of tax basis) should be kept in a safe deposit box or
fireproof and burglarproof safe.
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Insurance (Life, Health, Homeowner’s, Renter’s, Auto, etc.)
Additional Information (if appropriate)
Type
Company
and
Address
Policy
#
Location
Primary
of
Beneficiary
Policy*
Contingent
Beneficiary
Policy Owner
Person/Property
Insured
Values
Other
*Since policies are replaceable, they can be kept in a home business center, file cabinet, desk, CD, flash drive, etc.
Debit/Credit Cards*
If lost or stolen, notify:
Type
*Credit
In Name of
Account
Number
Company or
Institution
Mailing Address:
and Debit cards are usually carried in a purse or wallet.
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Web site
Personal
Identification
(PIN) #
Other Debt Information
Type
Company or
Person
Address
Telephone
Email or website
Amount
Payment
Plan
Location of
contracts or
records*
Additional
Information
*Important contracts, notes, liens, and evidence of paid debts should be kept in a safe deposit box and burglarproof home safe.
Memberships in Organizations and Clubs*
Name of
Organization
Address
Telephone
Email or website
*Membership cards can be carried in a purse or wallet
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Amount of
Dues/Fees
Membership Information
Term of
Whose Name
Membership
Number
Other Important Records
Group
A
B
C
Record Type
Adoption and Custody Papers
Baptismal Records
Bills of sale
Citizenship and Naturalization Papers
Death Certificates
Diplomas
Divorce and Separation Papers
Easements and Rights-of-Way
Household Inventory
Irreplaceable Proofs of Income and
Tax Deductions
Marriage Certificate
Military Records
Passport (copy of main page)
Patents and Copyrights
Powers of Attorney (copy)
Professional Licenses
Property Agreements
Wills or Trusts
Education Records
Employment Records
Family History
Funeral and Burial Records
Household Inventory (copy)
Income and Expense Reports
Income Tax Returns: Replaceable
Proofs of Income and Tax
Deductions
Medical Records
Net Worth Statements
Passport
Powers of Attorney
Safe Deposit Box Inventory
Warranties and Care Manuals
Wills or Trusts (copy)
Identification Cards
Insurance and Medical Information
Cards
Whom to Notify in Emergency
Location*
Additional Information
*Guideline: The more important the record- and the more expensive, time consuming, or difficult it is to replace- the safer the storage
location should be. For some records (will, trust, family history, tax returns, household inventory), you may wish to keep copies in
more than one location. Group A items generally should be kept in a safe deposit box or fireproof and burglarproof home sage. Group
B items can generally be kept in a home file or business center, file drawer, CD, flash drive, desk, etc. Group C items should be
carried in a purse or wallet.
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For further resources on caregiving topics, visit the Oklahoma Cooperative Extension Service
Website. Topics related from AgrAbility, housing modifications, family relationships, wills and
trusts, real estate ownership to Nutrition and Family Relationships can be found at
http://pods.dasnr.okstate.edu/docushare/dsweb/View/Collection-297 or contact your local OSU
County Extension Office. A listing of county offices and educators can be found at
http://countyext2.okstate.edu/.
References
American Association of Retired Persons Foundation, 2009, Prepare to Care; A Planning Guide
for Families.
Clemson University Cooperative Extension Service, 1998, Family Relationships: Building
Family Strengths. Brenda J. Thames, Deborah J. Thomason
Family Caregiver Alliance, National Center on Caregiving Fact Sheet, (2003), Holding a Family
Meeting
Journal of Applied Communication Research, 2013, Family Communication Patterns and
Difficult Family Conversations. David M. Keating, Jessica C. Russell, Jennifer Cornacchione &
Sandi W. Smith
Montana State University Extension, MontGuide (2012), Talking with Aging Parents about
Finances
Oklahoma State University, OCES Fact Sheet, (2013), Getting Your Records in OrderOrganizing Household Records
Unites States Government, http://www.usa.gov/topics/money/personalfinance/managinghousehold-records,shtml, (2013), Managing Household Records
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