3 Reasons You Need a Family Emergency Binder Today
It's crucially important for every household to be prepared for emergencies. No matter your income level, family structure, or age.
Sure, it's easy to say you don't need to prepare "yet" or you'll cross the proverbial bridge when you get to it. But once an emergency happens? It's too late to prepare. And finding what you need on the fly costs you more time, mental anguish, and - often - money.
So, let's discuss why you need a Family Emergency Binder right now.
What is the Family Emergency Binder?
The Family Emergency Binder fills the gaps left by a will and standard insurance policies. Because while a will tells the state where you want your assets to go, it doesn't tell your spouse how to pay the cable bill. Or the password to your investment accounts.
The Family Emergency Binder is broken down into 3 main modules – Key Family Information, Financial Information, and Need to Know Information - covering everything from medical information and family traditions to how to pay bills, insurance information, and burial preferences.
It lets you and your loved ones quickly find what you need in an emergency.
Why You Need a Family Emergency Binder
1 - It Saves Your Loved Ones Time & Anguish In an Emergency
Anyone who has ever had to be the executor in a loved one's will or take over due to incapacitation knows how stressful those situations are. Not only are you dealing with the emotional upheaval of losing someone close to you, but you're also forced to deal with endless phone calls, paperwork, and bureaucracy.
It's why people are often still tying up loose ends one to two years later.
The Family Emergency Binder organizes all your information so your loved ones don't have to be paperwork sleuths while dealing with grief. It lets them find what they need quickly and easily and get back to what matters most - healing.
Would your next of kin know where your bank statements were? How to find your life insurance policy and file a claim? Know your child's favorite foods or medications? What bills were on auto-pay and from which accounts?
If not, you need a Family Emergency Binder.
2 - It Saves Your Family Money
In almost every area of life, disorganization leads to lost money.
It means buying things twice (or three times) when you can't remember where you put the original.
Or paying late fees.
Or losing investment returns because you forgot to roll over that old 401K when you left your job.
The same is true in an emergency. Not being organized going into an emergency situation means higher legal fees, accounts misplaced, repurchasing things you don't know how to locate, unpaid life insurance policies, and more.
We've heard sad stories of families with term life insurance policies that weren't on auto-pay, and didn't get paid while a family member was in the hospital. Those missed payments meant the policy lapsed and wasn't paid out.
By taking the time to fill out a Family Emergency Binder, you'll ensure that you and your loved ones get the greatest benefits from the assets you've built.
3 - It Keeps You More Organized Today
Your Family Emergency Binder isn't only helpful when things go wrong. It can save you time and money just as you move through daily life.
When you move, you can flip through your Binder and immediately identify all the accounts where you need to update your mailing address as well as doctors you need to contact to update information or forward records.
If you have kids and leave them with a caretaker while going on a trip, you can print out the Medical Information and Childcare sections. Then favorite foods, important contacts, prescription information, and a Medical Power of Attorney is readily available for that caretaker.
Not to mention tax time! When you can review all the accounts in your Binder, pull tax statements, and get them to your accountant without anything falling through the cracks.
Over the years I've found so many times that I turn to my Family Emergency Binder, even when things are going well. I'm forever grateful for the time I took to set it up. And you will be too!
Get Your Family Emergency Binder Today
Thinking about emergencies you or your family might face isn't easy. But it's an act of love that can save the people you care about time, money, and heartache in a difficult situation. Not to mention all the ways it can make day-to-day activities easier by putting all your information in one organized place.
Click here to grab your Family Emergency Binder and start filling it out right away!