Organizing your family recordss

You've probably heard stories, maybe within your own family, about relatives frantically searching for important financial information following the death of a loved one. Keeping track of important financial documents, and making these documents accessible to others in the event of an emergency, can help avoid severe emotional distress and possible financial hardship. Important documents include such items as stock certificates, mortgage records, tax returns, major purchase receipts, and personal papers. You may want to store your more precious documents in a safe deposit box in the bank, and keep a copy in your home. Be sure your spouse, children, grandchildren, or executor know where to locate this information. Your current financial records should also be stored in a safe place, and you should also keep a reference sheet including the names of your key advisors, including anyone who should be contacted in the event you are unable to handle your own affairs. These tips are provided to give you general information about your taxes. If you have specific questions, please consult a tax advisor or call the toll-free number for Federal Tax Information and Assistance at 1-800-829-1040.