Before I get into what an emergency binder is, I need to disclose that I’m not a professional, nor is this a replacement or ad for a proper estate plan. I’m also not trying to sell you on an estate plan. However, next to an estate plan, this binder is probably one of the most important resources you’ll have in your home, ESPECIALLY if you live on your own, own a home, own a business, have assets, pay your bills online, travel, etc. Whether you’re single, in a relationship and living together, or married, and regardless of the dynamic of your household, this emergency binder will enable your loved ones to effectively manage an emergency, so your credit doesn’t suffer or you don’t run the risk of losing your assets during such situations. Trust me when I tell you, this a concept no one wants to ponder, let alone prepare for but it’s 100% necessary.

Over the last few months, we’ve been working with an attorney to set up a proper estate plan for ourselves and our children, to insure they’re well taken care of and our assets are free of probate, in the event something were to happen to us. And this week, I sent the final approval for our documents to be drafted, and I couldn’t be more RELIEVED. Even though this is all hypothetical and we will hopefully live for another 30 years, it was truly a strange notion to wrap our minds around. If you’ve gone through this undertaking, you know exactly what I’m talking about.

One of the resources they sent us during this process was the emergency binder, which my Capricorn brain couldn’t believe I hadn’t thought of this before. I mentioned above, every relationship and marriage dynamic is different. For example, I’m the house manager, meaning I’m responsible for keeping all our finances in order. All of our accounts are set up through my emails, I have the passwords, know the date & amounts due, etc. If something were to happen to me – get in a car accident, have to be hospitalized, etc., Jay wouldn’t have a clue where to start or what bills to pay, when to pay them, how much to pay or better yet – how to access these accounts online. And that my friends, is only one reason why an emergency binder is so critical, especially in this day and age.

Even if you’re a young individual living on your own, if something were to happen, your loved ones could step in and take care of your finances while you recovered. I’m trying not to get into the intricacies of the “what ifs”; however, if one were to pass, an emergency binder wouldn’t be enough to save, designate, or take over assets. That’s where an estate plan would be necessary. AGAIN, I’m not here to sell you on an estate plan; I’m simply sharing this resource because it truly applies to all of us. It’s a great starting point, if you will…

I know I just threw a lot at you. I know this because of how I felt at the beginning and throughout all of our estate planning journey. If you’re interested in learning more about an estate plan, please seek out the help of a professional. The organization we used is on the emergency binder and password sheet below.

Disclaimer: the binder is 84 pages long so make sure you have enough ink and paper. Also, the instructions state this but make sure to store your binder and password sheet in separate locations.

I hope you found this as useful as I did. Thank you for joining me here and please let me know if you have any troubles downloading these documents.

Con amor,

Jennifer P.