Putting Your House in Order
As a seniors real estate specialist, I often talk with people who are downsizing, simplifying, and just trying to get a better handle on everyday life. One topic comes up again and again: the Legacy Binder. Some people already have beautifully organized binders, others have made a good start, and many haven’t started yet — and that’s perfectly okay.
Such binders are called by different names: Personal Information Binder, Important Papers Binder, Life Organizer, Peace of Mind Binder, or Family Guide. Whatever you call it, the purpose is the same: to be organized, prepared, and able to quickly access important information when it’s needed.
Recently, my 94-year-old mother-in-law moved into assisted living. Because she had a binder in place, we were able to easily find account numbers, cancel utilities, update addresses, and manage other details without added stress. Our family was incredibly grateful for her preparation; it made the transition so much smoother for everyone.
Many of us have important information stored in multiple places — file cabinets, drawers, safe-deposit boxes, and even in our own heads. When something is needed quickly, that system often adds time and stress. A Legacy Binder saves time, reduces frustration, and provides a sense of calm and reassurance by keeping essential information in one central, easy-to-find place.
These binders aren’t created in a day. Give yourself the grace to take it one step at a time. Start simple with a three-ring binder, dividers, and labels. You can add to it gradually as you go.
Among my presentations to senior groups, the Legacy Binder is consistently a favorite topic. Categories I typically recommend appear next page. Keep in mind, this binder is yours. You decide what belongs in it and what doesn’t. There’s no one-size-fits-all when it comes to a life well lived. These are suggestions, not legal advice, so consult an attorney if you have questions.
Making a Legacy Binder
Common Legacy Binder Categories:
Letter of Instructions
- Include phone numbers, addresses, account numbers, dates, visuals, photocopies, and Include any notes or guidance that will ease use and understanding of the information.
Things to do First
* Contact Social Security
*Notify These Friends and Family (include list with names, relationship, phone/email)
*Contact Medicare
*Cancel These Autopays
Biographical Information
* Marriage and/or divorce documents
* Family tree
Banking / Brokerage Accounts
*Include account numbers and contacts
Burial or Cremation Preferences
Credit Cards & Debts
Durable Power of Attorney
Health Information
*Doctors, medications, allergies, and medical notes
Insurance Policies
Passwords
*(Store carefully and securely)
Pets
*Care instructions, contact information for veterinarian and designated caregiver should one be needed
Real Estate
Social Security/Medicare Information
Subscriptions & Memberships
Taxes
Vehicles
Other
*Anything unique to you
Once your binder is in place, store it in a safe, secure location that a trusted person is aware of. Review it once a year, and update it as things change.
Creating a Legacy Binder isn’t about focusing on the negative. It’s about making life easier, more organized, and less stressful for you and those who care about you. For a detailed checklist, contact me at ben.idealrealestateor@gmail.com
One thing I know for sure: people always feel better once they’ve started. Why not be one of them?
Ben Richardson
50plus Magazine
Ben Richardson enjoys helping seniors as a Seniors Real Estate Specialist. He is the principal broker and owner of Ideal Real Estate.