Personal, Financial and Legal Record Organization - Part Two

Winter 2017

by Marge Buchholz, CPA/ABV, CVA

In the fall 2016 Issue of the WKMR Connection Newsletter I wrote an article that discussed the importance of organizing your personal, financial and legal records, sharing the following organizational tips:
Create a list of your financial, investment and insurance information
Create a list of your family’s personal information
Document what is in your safe deposit box
Draft a will and name an executor
Update your will for current beneficiaries 
Name a guardian for any minor children
In the event of an untimely incapacitation or death, your loved ones will need many documents to ensure your bills are paid and your wishes are carried out.  Organizing your records will keep you from burdening your family with a document and records search during an emotionally difficult time. 
Here are some additional important items you should add to the above information.
Legal Documents
You should have the following legal documents in place:
Advance Directives – which are used if you are incapacitated.  The Wisconsin forms can be downloaded from the Wisconsin Department of Health Services website at
Living Will/Medical Directive – Written details of what type of care you want if you are can’t speak for yourself because you are incapacitated.
Durable Power of Attorney for Health Care – Name someone you trust to serve as an agent for you to make sure that all of your health care related wishes are being followed.
Durable Power of Attorney for your Finances - Again, this should be a person you trust to handle your financial matters if you are unable to do so yourself.  In this document you can give this person as much or as little authority as you like. 
Winter, Kloman, Moter & Repp, S.C. is helping our clients take their important information and arrange it in a manner that is easy for their family to find, follow and understand.  Whether, you’re in your twilight years or just starting a family, it’s never too early to start getting your information organized. So if you need assistance with the process, give us call, we are happy to help you.