Many people recognize that guns, money and jewelry should be locked up in a safe. But few people realize that there are a number of important documents which also should be kept secure in a safe.
Ask a trusted locksmith near you for some recommendations.
If you have ever had the misfortune of settling a relative’s estate you know that if the relative had put important documents in one secure place — such as a safe or safe deposit box at a bank — your job in settling the estate would have been a whole lot easier.
If you live alone or are elderly, getting these documents together in one place and making sure that they are secure from fire, water damage and theft, could be critically important to your loved ones.
Those that are tasked with settling an estate are often tasked with also being a detective, trying to figure out where a loved one may have stored the critical documents they need. One estate settlement article suggested places to look for these documents including the following: computer, file cabinets and drawers, email, home office or workplace, storage units, safe-deposit box, at the lawyer or accountants’ office, or with other relatives or friends.1
Unintentionally, most people store documents in a variety of places and locating these documents often seems like a treasure hunt. With forethought and a bit of planning it doesn’t have to be that way.
The following is a prospective locksmith -approved list of… documents that would be needed to settle most estates:2
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- Identification information (driver’s license, Social Security card, passport, etc.)
- Birth certificates
- Death certificates
- Marriage license
- Divorce papers
- DD214/military service records
- Last will and testament
- Trusts
- All bills (utilities, loans, rent, credit cards, etc.)
- Financial information (bank statements, brokerage accounts statements, retirement/pension plan statements, annuities statements, life insurance policies, tax returns, etc.)
- Real estate deeds and leases
- Auto/boat titles
A list of all subscriptions would also be helpful, as would a list of recurring charges. While most people would never keep all their bills or financial information in a safe, they could place a note in the safe detailing where these items are kept in the home or office. The latest income tax return would be important to place in the safe, but a note indicating where the rest of the income tax returns are kept would be sufficient. A note indicating where the credit card statements are kept is equally valuable, as the credit card statements provide clues to where recurring payments are being deducted. Even a note telling your loved ones where you keep your checkbook would be a big help.
In recent years, television commercials have touted fireproof document bags and boxes for storage of important documents. These bags and boxes generally can withstand fires that are1,000-2,000 degrees Fahrenheit but there are no industry accepted or federal ratings for testing fireproof document bags.3 The materials used in these bags are known to be fire-resistant. Another consideration is that while these fireproof bags and boxes can be helpful because all documents are in one place, they are also portable. If your home is burglarized, all your important documents may be taken by a thief.
Investing in a safe that is secure and can’t easily be moved is the ideal way to store these documents. A professional locksmith can assist you in selecting the correct safe with enough storage space for both your valuables and documents. A final tip is to be sure that a trusted friend or relative knows the combination to the safe or where the combination is written. If keys to a safe or document bag are needed, make sure that a trusted friend or relative also knows how to access those keys. A professional locksmith can open these items in the event that combinations and keys are not found, but it is a lot easier if these items are available.
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If you have questions about safe installation or anything related to doors, locks and security systems, connect with us online and let us know what you need help with. Action Locksmith is a Michigan, family-owned locksmith business with an esteemed reputation throughout Southeastern Michigan.
Our hard work, dedication and vast technical knowledge has made us a go-to residential and commercial locksmith. Call today and Save!
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1,2 Estate Settlement Guide by Stephen Segal, 10/26/2022
Link: https://www.legacy.com/advice/estate-settlement-guide/
3 The Best Fireproof Document Bags to Keep valuable Papers Safe, Tested by Glenda Taylor and Tom Scalisi, 1/19/2024
Link: https://www.bobvila.com/articles/best-fireproof-document-bag/