Your life: Ensure it’s all in a file

I have over the years as financial planner and in different scenarios of financial planning aspects realised that most people do not attend meticulously to ordering their personal finances in a file or files.

It is so much easier when we put “our lives in a file”, especially when you fall sick for long periods or at death of you or your spouse.

The following is a very condensed index of such a file but could serve to get your personal financial documentation lined up for ease of reference:

1. Annual renewals – licences, memberships, insurance and subscriptions.

2. Personal details – birth certificate, ID, passport, marriage certificate, Will, licences, and medical aid.

3. Professional Contacts – accountant, attorney, doctor, financial planner, executor of estate.

4. Medical History.

5. Burial wishes.

6. Education details – Certificates, Degrees.

7. Employment details – Contracts, History.

8. Finance and Banking details.

9. Income tax – record of correspondence and returns.

10. Insurance details – All policies, pension and retirement plans.

11. Shares and unit Trust Portfolios.

12. Property details – deed of transfer, timeshare portfolio.

13. Motor vehicles – Registration certificates, services, manuals, contracts, alarm system, radio, devices.

14. Jewellery inventory and other valuables.

Your life, once ordered in a file, will be leaving a sense of order. Start today!

Regards until next time!

Koos de Wet

* Koos de Wet CFP is a financial planner at PSG and a member of the Fiduciary Institute of South Africa. Readers can send enquiries to koos.dewet@psg.co.za.