Some families have suffered tragic losses because they have lost assets. If no one knows where it is, or if it even exists, then your hard-earned wealth will be in trouble. You know this is not enough. Your family, your caregiver, your counselor and your estate also need to know.
You will be amazed at the amount of state finances and trusts because the family does not know it exists. One quarter of all life insurance benefits are unclaimed. According to the US Securities and Exchange Commission, as many as 3 million shareholders are entitled to $10 billion worth of unclaimed stock. Government agencies hold $60 billion in unclaimed property and arrears. The $500 million annual social security benefits check is unclaimed, and when the bond expires, less than 1% of US savings bond holders are successfully notified.
Someone has the right to get the money.
Make sure your heritage knows what you have and where it is. Create personal financial records for all assets and property. List them to establish proof of ownership. Determine the location of their physical location. If not, create permissions for at least one other person to gain access.
The most useful tool for this purpose is the personal record keeping software. Paper records are easily lost, damaged or destroyed. Digital records are not snooped. You can back up your digital records and keep your protected copies in a safe place. The record keeping software can run on your own computer without connecting to the internet. Multi-layer encryption prevents intrusions. Your records are password protected, so only you can access them. However, you can create access rights for other licensors with a password that you control.
Record keeping software has other advantages. That is, it provides an organizational framework to help you understand the information you want to track. All you have to do is fill in the blanks. The software can easily perform any stressful task that can be painful. Other benefits include the next financial record in other categories where you can enter, store, organize, and maintain additional information that is critical to the happiness of your family. Medical and health records, such as insurance and retirement records, or emergency contact numbers, and living and willingness.
A complete PFR will ensure that nothing is lost or forgotten, and the transition is smooth and easy. You do not wish to leave your estate in a condition of delay or confusion of asset transfers. Personal Record Saver is a program that helps you organize and collect detailed information about your financial records in one place.
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