I always recommend that my clients invest in a fireproof box for their important papers. To determine which papers to include in your firebox, consider how difficult or long they would take to replace.
Wherever you live, there is always the risk of natural disasters such as fires and floods that could result in the destruction of your home and your important papers. Fire strikes one American home approximately every 50 seconds. It helps to be prepared so that if such situations occur, you can minimize the impact.
Remember that all fireboxes are not equal. Make sure to buy units that are rated for full-scale fires. Most units are safe for 30 minutes in a fire so the best models are portable that you can grab and carry away in an emergency.
Fireboxes are a perfect storage zone for car titles, social security cards, passports, birth certificates and marriage licenses. Store everything that has a high degree of difficulty replacing. Here is a list of recommended items to store in your firebox:
Passports
Safety deposit box keys
Original Social Security card
Birth Certificates
Diplomas
Insurance policies with contact numbers
Titles and Deeds
These additional items should also be kept in a safe place such as a bank deposit box. If you do not have a bank deposit box, these should be added to your firebox:
Marriage Certificate
List of bank accounts and contact information
List of debt obligations, due dates, and contact information
List of doctors and contact information
List of medications, prescription numbers, and pharmacy phone numbers
Copy of durable power of attorney, living wills, and healthcare proxies
Yours and all those of which you are attorney-in-fact or healthcare surrogate
Copy of each of your wills and all those of which you are the executor
List of investment, retirement, and bank accounts, with all contact information
Store a copy of a checklist in your firebox and with your will so that your executor has access to both. Give copies of your checklist to your lawyer and the relatives who have copies or know where to locate your important documents.
If you are interested in creating a home inventory list to store in your fire proof box, here is a great resource: The Household and Personal Property Inventory Book can be downloaded for free at www.ag.uiuc.edu/%7Evista/abstracts/ahouseinv.html.
Getting your papers organized can seem like a daunting task. It would definitely take longer to recreate them after the fact than when you are in emergency mode and scrambling for details. Also, once your system is created, it only requires simple adjustments over time. In other words, you really only have to do this exercise once and you are good to go!
Kathi Burns is the founder of AddSPACE To Your Life, a professional organizing and image consulting agency. Adding Space is Kathi Burns mission and transformation is her passion!