Money and Document Management

Staying organized and asking others for assistance are keys to money and document management. For starters, individuals need to keep important documents in either a safety deposit box or fireproof box at home. Another alternative is to ask an attorney, friend or relative to keep them. You may want to keep copies of some documents in multiple locations for added peace of mind.

Documents that don’t require regular access are better for a safety deposit box and include:

  • Abstracts
  • Appraisals or Bills Of Sales
  • Birth Certificates
  • Certificates Of Deposit
  • Copy Of Master List
  • Deeds
  • Individual Retirement Account
  • Legal Agreements
  • Death or Marriage Certificates
  • Degrees or Military Discharge Papers
  • Naturalization Papers
  • Personal Property Inventory or Pictures
  • Bonds, Securities or Stock Certificates
  • Title Policies

For documents that may require quicker access, use a fireproof box at home. These may include:

  • Awards
  • Copy Of Master List
  • Financial Records
  • Recent Income Tax Returns
  • Insurance Policies
  • Living Will
  • Power Of Attorney
  • Property Tax Receipts
  • Warranties
  • Wills And Codicils
  • Burial Instructions
  • Trusts

There are several different reasons a person may also need assistance with financial management tasks:

  • Lack of knowledge and practice managing money
  • Physical illness or frailty, preventing someone from banking
  • Sensory losses or impairments
  • Confusion, problems with memory, dementia
  • Mental illness
  • Safety issues (e.g. fear of going to a bank)
  • Very low income or very large debt
  • Victim or potential victim of financial abuse or exploitation