It’s critically important to keep your finances well-organized, documented, and easily accessible so that in the event of an emergency others will have the ability to manage your finances on your behalf if necessary.
- Unpaid bills or failure to communicate with creditors while bills aren't being paid can permanently affect your credit rating, or worse.
- Written information about your financial matters as well as written instructions on how to use the information is necessary for others to keep your finances in order in an emergency or crisis.
- Even if someone has your Power of Attorney, they will need information and instructions to know how to use the Power of Attorney.
- Not even spouses are allowed access to any of your various accounts and other financial information without your written permission except for joint accounts.
- Choose those you want to oversee your finances in an emergency based upon their financial experience and abilities.
- Maintaining detailed financial records will be invaluable to your heirs upon your death.