The financial consequences of failing to keep your documents in order can be significant. According to the National Association of Unclaimed Property Administrators, state treasurers currently hold $32.9 billion in unclaimed bank accounts and other assets. (You can search for unclaimed assets at MissingMoney.com .)
Most experts recommend creating a comprehensive folder of documents that family members can access in case of an emergency, so they aren't left scrambling to find and organize a hodgepodge of disparate bank accounts, insurance policies and brokerage accounts.
You can store the documents with your attorney, lock them away in a safe-deposit box or keep them at home in a fireproof safe that someone else knows the combination to.
That isn't to say you should keep everything. Sometimes people hold onto so many papers that loved ones can't find the important ones easily.
via online.wsj.com
The WSJ article lists 25 documents you need before you die.
At least in Connecticut, four of those documents can be consolidated into a single health care document called the Advanced Directive and Appointment of Healthcare Representative.
Online passwords are getting to be more of a priority considering that many people are nor only receiving their bank statements, credit card statements and loan information via email. This is complicated by the fact that people change (or should change) their passwords every few months or so to prevent fraud. It probably would be helpful to keep rotating top 5 password list and other password variations list to a loved one.
