It’s “Benefits Enrollment” time and this year I decided to increase my life insurance for myself and my spouse. I don’t want to think about it but I know that death is a certainty of life, and a death leaves a huge void, especially financially. Uping the life insuarance ante inspired me to put together a Legacy Binder. Similar to Lily and Marshall’s “Death Folder” on How I Met Your Mother, a legacy binder holds important info my family would need to access upon my death.
I put together a simple 3-ring binder with dividers and sheet protectors. The main categories are:
Estate Plan (which we need to get)
Accounts and Payments Due
Funeral Requests (work in progress)
I referenced Money, Love, and Legacy for a detailed list of items to include.
Since I manage the household bills and exprenses I also included our bank account info and bill pay system. If something were to happen to me it would allow my husband to access our accounts and easily make on time payments. I included account numbers, auto-payment schedule, and contact info for each biller.
The Legacy Binder is something that needs to be updated as my life changes but the ground work is set. Now it will be easy to add title papers, update account info, or add medical records as needed. It’s in a safe place and those who may need it know where to access it. Creating the Leagacy Binder helped me organize important documents for my life and I feel good knowing my survivors will have easy access to everything they need upon my death.