Preparing a personal data record

Once you've opened the lines of communication, your next step is to prepare a personal data record.  This document lists information that you might need in case your parents become incapacitated or die.

Here's some information that should be included:

• Financial information: Bank accounts, investment accounts, real estate holdings

• Legal information: Wills, durable power of attorneys, health-care directives

• Funeral and burial plans: Prepayment information, final wishes

• Medical information: Health-care providers, medication, medical history

• Insurance information: Policy numbers, company names

• Advisor information: Names and phone numbers of any professional service providers

• Location of other important records: Keys to safe-deposit boxes, real estate deeds

Be sure to write down the location of documents and any relevant account numbers. It's a good idea to make copies of all of the documents you've gathered and keep them in a safe place. This is especially important if you live far away, because you'll want the information readily available in the event of an emergency.

Al Caicedo, CSA Asset Preservation Consultant Macomb County Money Expert CKS Summit Group, Inc. 37040 Garfield, Suite C-3 Clinton Township, MI 48036 Phone: 586-286-5820 Fax: 586-286-5827 E-mail: cks@summitgp.com Web: www.summitgp.com