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A family information binder is one place where you can keep all your important medical, financial, and legal documents.

In case of emergency or just for convenience, having an up-to-date binder will help your loved ones manage your affairs. As Benjamin Franklin said, “For every minute organizing, an hour is earned.” 

You can easily make a family information binder yourself. First, read our post on how to Create A Family Information Binder. Then, get started organizing your information. Keep in mind that there are 15 important things you should include.

15 items to include

1. MY FAMILY INFORMATION

List all family members including parents, children, grandchildren with their names and contact information, dates of birth, marriage, and death. In case of emergency, it is one place to have all updated information.

2. HEALTH CARE POWER OF ATTORNEY & MEDICAL INFORMATION

Information in this section is helpful for your Health Care Surrogate to provide your medical information to a new doctor. Include your original Health Care Power of Attorney or a copy with instructions on where to find the original. If you are including your original, put it in a plastic sheet protector. Do not hole punch it or mark it up.

• List names and contact information on your doctors and other medical professionals
• Indicate what hospital or nursing facility you prefer
• Detail your medical history, including any surgeries or procedures with their dates
• List medications and supplements that you take

3. HEALTH INSURANCE & MEDICAL BENEFITS

List your health insurance plans with group or plan numbers, contact information, and benefits. Make sure to include any:

• Government or military benefits
• Long-Term Health Care benefits
• Disability insurance
• Medicare or Medicaid

4. ADVANCE MEDICAL DIRECTIVE OR LIVING WILL

Include your original Advance Medical Directive or a copy with instructions on where to find the original. If you are including your original document, put it in a plastic sheet protector. Do not hole punch it or mark it up. This is where you can include any detailed instructions of your wishes or how your family can care for you.

5. FINANCIAL POWER OF ATTORNEY & FINANCIAL INFORMATION

Include your original Financial Power of Attorney or a copy with instructions on where to find the original. If you are including your original document, put it in a plastic sheet protector. Do not hole punch it or mark it up.

Include information about:

• Bank accounts
• Savings accounts, such a money markets or certificates of deposit
• Investment accounts
• Brokerage accounts

List where your accounts are held along with your account numbers. It is also helpful to provide the names of the bank contacts. Furthermore, keep a current statement or annual statement in the binder to show balances in these accounts.

Include information about:

• Retirement accounts
• Pension plans
• Government or military benefits

List where the accounts are held and the account numbers. You may have more than one retirement account so list all of them. Put a copy of the retirement account or pension plan statements in the binder.

6. PROPERTY & ASSETS

Itemize any real estate owned, cars, boats, etc. that you hold with copies of the deeds, titles, and information about the property. Provide instructions, if any, of what you want your beneficiary to do with the property you have given them in your will.

• If you have a safe deposit box, list the bank location, safe deposit box number, and where to locate the safe deposit box key. Include a list of what might be found in your safe deposit box, such as certain documents, coins, jewelry, etc.
• If you have a safe, leave instructions on where it can be found and who has access to it. List what will be found in the safe.
• If you have a storage unit, include the address of the storage facility, unit number, where the key can be found, and what will be found in the unit.

NOTE: Only you know best about what accounts, assets, and insurance policies you have. States receive millions of dollars of “unclaimed property” each year from forgotten CDs, bank accounts, pension plans, savings bonds, escrow accounts, insurance checks, security deposits, etc. If you have moved or changed jobs, it is possible that something may have been left behind. You can search easily for unclaimed property in your name at the website missingmoney.com. You can also check your state’s department of unclaimed property. Search in any state in which you have lived.

7. BUSINESS INTERESTS & INFORMATION

If you have a business, list the corporate name, entity type, taxpayer identification number, etc. Include any contacts for the business such as a bookkeeper, CPA, or attorney. If you have stock certificates, you can put them in a plastic sleeve protector or attach a copy with instructions on where to find the originals. You should also leave details about what to do with the business such as dissolve it, sell it or transfer it to another.

8. CREDIT CARD & DEBT INFORMATION

List your credit cards and any banks where you have loans. If you have signed a promissory note for a loan, attach a copy of the note with the terms of the repayment. Include information on mortgages on your real estate, car loans, student loans, or personal lines of credit.

9. DIGITAL ASSETS & PASSWORDS

List passwords to bank account information and websites. This is particularly helpful when one spouse may only have access to a specific site. Include information on any social media accounts.

10. PROPERTY INSURANCE & OTHER INSURANCE

Include information with policy numbers and contacts on homeowner’s insurance, renter’s insurance, and car insurance. This is particularly handy if you have to evacuate your home quickly due to a natural disaster or emergency. List details of any other coverage such as an umbrella policy.

11. LIFE INSURANCE POLICIES

If your family does not know what policies you have, they cannot collect them upon your passing. Insurance companies are not obligated to contact you about a life insurance policy they are holding, even if they learn that the insured has died. List where the policies are, with what company, and the expected benefit amounts. Attaching the policies is extremely helpful. Your beneficiaries must contact the insurance company upon your death.

NOTE: You can find out if a deceased family member had a life insurance policy. The National Association of Insurance Commissioners (NAIC) has a life insurance policy locator at the website https://eapps.naic.org/life-policy-locator/#/welcome

12. WILL

Include your original will or a copy of your will with instructions on where to find the original. If you are including your original will, put it in a plastic sheet protector. Do not hole punch it or mark it up as that may be seen as a revocation of the will. Also, include any letters of instruction to your will such as the reasons for naming certain guardians for your children.

13. TRUST

Include your original trust or place a copy of your trust with instructions on where to find the original. If you are including your original, put it in a plastic sheet protector. Do not hole punch it or mark it up. Also, include any letters of instruction to go along with your trust.

14. FUNERAL ARRANGEMENTS & ORGAN DONATION

List any special instructions or requests such as organ donation or cremation. If you have a funeral plan, include the contact name at the funeral home.

15. LETTER OF INSTRUCTION

If you have assembled all the above, congratulations! You have done more than 99.9% of people organizing their affairs. Additional help to your family is to write a letter of instruction. You can detail your wishes or items or issues not covered in your will.

For example, say you have a mortgage on your primary residence and a small investment property and you are leaving the properties to your spouse.

You might let your spouse know you think it is advisable to sell the investment property. Instruct them to pay off the mortgage of the primary residence so they do not have to worry about mortgage payments. This is not a provision you want in your will because circumstances could certainly change. However, it is helpful to provide suggestions that heirs could follow (if it made sense to do so at the time).

Besides, you can write a letter to your family expressing your thoughts about your life and your death. Pass on any wisdom or words of comfort to those you leave behind.

Now that you have created your binder

Creating your family information binder is one thing. Updating and letting people know about it is another. Therefore, once you have your family information binder set up, review it at least once a year. If you are the person in your family who handles most, if not all, of the finances, it is a good idea to sit down with your spouse or a trusted family member and go over the information with them.

However, if you don’t have a spouse or other family member, share your binder with a trusted friend. For example, your Financial Power of Attorney or personal representative.

To get a head start on organizing your family information binder, go to My Family Binder Forms for downloadable PDF forms.

Need more tips to jump-start your estate planning? Get Estate Planning for the Sandwich Generation: How to Help Your Parents and Protect Your Kids today.