Practical tips on how to get your affairs in order
It’s never a pleasant topic, thinking about making provisions for when you are unable to make decisions for yourself or planning for your loved ones’ future without you. However, as it becomes harder to stay on top of your bills, appointments, and obligations, it doesn’t make sense to ignore the task of getting your affairs in order.
As situations become harder to manage, we need make sure that our affairs are in order. By being organised, it reduces the burden on trusted loved ones who step in and help us.
The first thing to do is identify all the important documents and make sure that they are easily accessible, both in hard copy and electronically. It is important too, that those you trust to help you, know where to locate these documents should they need to in the future.
These documents include:
Personal:
- Birth Certificate (including adoption papers if applicable)
- Marriage certificate
- Any citizenship papers and passport
- Names, addresses and phone numbers of close relatives (i.e. children, siblings) and friends so they can be notified of any unforeseen event
- Name and dosage instructions for medications that need to be taken
- Religious wishes
- Living will
- Substitute decision makers, such as enduring power of attorney (makes financial and legal decisions on your behalf), and enduring guardian (makes health, lifestyle, and medical decisions on your behalf)
- Advanced care directives
- Details of your solicitor, accountant, financial planner
- Receipt and appraisals of valuables, such as jewellery, rare collections, and their location
- Human Services (formerly known as Centrelink) and Medicare details
- Details of your doctor, dentist, and other medical professionals
- Email login details, social media accounts, and other login details for any clubs, associations or memberships that you wish to maintain
- End of life care and living arrangements
- Funeral arrangements and wishes
Financial:
- Deed to the house, mortgage documents, or lease information
- A copy of your utilities and services bills, telephone bills, subscription details
- Sources of income and assets and their details, such as investment properties
- Investment income, i.e. stocks and bonds
- Bank and credit card details and login information
- Insurance information, i.e. life insurance, health insurance, car insurance, home insurance
- Car title and registration, including mechanics’ details and mortgage information
- Location of safe deposit box and its key
It is important that these documents are all kept in a safe place that is fireproof, theft proof, and will not be affected by a natural disaster. If any of the documents are copied, ensure that they are certified by a Justice of the Peace or Solicitor so that there is no dispute later as to their authenticity.
There may be some charities or organisations that you wish to maintain support for, or newspapers, magazines, and other subscriptions that you want to cancel. These are all decisions that need to be acted upon as you get your affairs in order.
As you can see, there is a lot to consider to get your affairs in order. But, try imagining a trusted relative or friend attempting to do this on your behalf and you can see why it’s important that you take charge of your affairs while you still can.
Chedid Storey legal has a vast amount of expertise helping clients with Wills and Estate Planning. Many of our clients are unable to meet with us at our offices, so we offer the convenience of meeting you either at home, in hospital or another suitable location. For further information or advice, please contact us. Call +61 2 9913 3377.