How to organise your personal information for family in time of need

With so much of our financial and personal information now stored online, keeping track of passwords, vital documents, and digital assets is essential to safeguarding your legacy and ensuring everything is current and secure.

Properly managing these assets not only protects your legacy but also ensures that your loved ones have the information they need when unexpected events arise.

To assist you, our advisors have created an Estate and Financial Emergency Plan, which includes a comprehensive checklist to safeguarding your assets and documents. Here are some key steps to help you stay organised:

• Create a Financial Emergency Plan: Start by developing a comprehensive Financial Emergency Plan that organises critical financial, legal, and personal information your family will need. You can download the Estate and Financial Emergency template below.
• Download a Password Manager: Use a reputable password manager to securely store and manage your passwords, account details, and digital assets. Share access with a trusted loved one using a master password or recovery options.
• Share Phone Access Information: Provide your spouse or trusted individual with your phone’s password or biometric access details to ensure they can access your phone if needed.
• Set Up Emergency Contacts on Your Phone: iPhone users can add emergency contacts through the Health app, while Android users can display emergency information on the lock screen.
• Secure Important Documents: Store physical copies of vital documents (e.g., wills, healthcare directives, passports) in a secure location. Ensure that trusted loved ones know how to access these documents.
• Backup and Secure Digital Data: Regularly back up important documents and digital files to a secure cloud service or external hard drive. Share access details with your spouse or executor.
• Review and Update Beneficiaries: Check and update the beneficiaries on your life insurance policies and financial accounts to ensure they are current.
• Discuss Your Wishes with Family: Have open conversations with your family about your wishes, including estate handling and any specific instructions.
• Update Legal Documents: Regularly review and update your will, power of attorney, superannuation binding nomination and healthcare directives to reflect your current wishes.
• Schedule Annual Reviews: Set reminders to review and update both your Financial Emergency Plan and this checklist annually, or after major life changes such as marriage, a new job, or the birth of a child.

How Morrows Can Help – Download Our FREE Template today!

To download the Estate and Financial Emergency Plan template, please complete the form below.

If you need more help populating the document, reach out to your Morrows advisor, they are more than happy to help you and your family.