Preserve Family Financial Information

It is very important to preserve family financial information. You never know what can happen to your family on a daily basis. Sometimes family has money saved under mattresses because they think that is more safe. Some families have great grandparents who have left money somewhere and as they pass away, the remaining family members will never know where it is. There are many different records you need to preserve for your family financial information.

We all want to make sure we save money for our future marriage, house, kids, college funds, etc. We also want to save money to buy the fun things in life or go on vacations with family or friends. Where do you preserve your family financial records? Just as important as it is to preserve family financial information, it is also important to keep records of everyone in the family. Some people do this with a family tree, lists written out or saved on a computer, or through preserved videos interviewing everyone to save and view years later for advice in life for future great grandchildren.

So, first make a list of all of your family members you know or can think of. Many times as you are putting together family financial information, you will end up putting together a family tree or even a medical history list. These are all important papers to save for future generations. It is important to know who in your family line had similar diseases, so you know ahead of time things that may happen to future grandchildren.

When dealing with other financial issues in your family, it is also nice to know others involved like the following, to know who to seek for advice when needed:

• past accountants
• attorneys
• bankers
• business partners
• clergymen
• executors of will
• insurance agents
• tax consultants
• trust officers
• other

Similar to when you move somewhere, it is hard to find a good hairdresser or doctor you can trust. That is why I always save their information if I am not moving too far away, otherwise I ask them who they would recommend if they know anyone where I am moving to. It is just as important to preserve family financial information too, so you know who to go to for financial advice.

Most importantly, make sure you preserve all of your bank accounts information somewhere safe. This includes the names on the accounts, numbers, and passwords. Don’t forget about safe deposit boxes too.

Similar to filling out a piece of paper as to why you included a sentimental memento or memorabilia in a Baby, Wedding, or “Any Occasion” DIY Time Capsule, you may also want to fill out a paper with the location of where you keep your important documents for your family finances.

Some people choose to keep important documents in a time capsule. If you do this, you can put them in a decorative time capsule similar to the ones here, but we would also make sure you have copies saved in a fireproof and waterproof safety box. Important documents may include things like:

• Marriage, birth, baptismal, and securities certificates.
• Wills
• Military service records
• Social security cards and numbers
• Employment records
• Automobile title and registration
• Education records (Expenses and Transcripts)
• Medical and health records
• Insurance policies
• Adoption papers
• Divorce or separation papers
• Passports
• Citizenship papers
• Income tax returns
• Other tax records
• Other

So what other important papers can you think of that you should preserve? Comment below.

Making Milestone Moments Count,

– Marcie