Disaster Proof Your Important Papers

When natural disasters topped the headlines this past year, it became clear how important it is to safeguard your financial documents and other crucial papers. By spending a little time now preparing for the worst, you'll be better equipped should you ever have to clear out of your house in a hurry.

What to collect:

Financial institution account statements. NWFCU's eStatements are stored for 12 months and available 24/7/365.
Birth certificates, marriage certificates or divorce decrees.
Identification records (driver's license, passport, etc.).
Titles, deeds, registrations for vehicles owned.
Mortgage and other loan information.
Insurance policies.
Investment records.
Medical contact information and numbers.
Credit card statements.
Copies of past income tax returns (The IRS recommends keeping tax returns for seven years from the date you filed the return).
Report of earnings from Social Security.
Trusts.
Wills.

Tips for safeguarding your documents:

Put important documents in plastic covers to protect and prevent you from accidentally giving away the original.
Get copies (certified, in cases of birth certificates) in case you need to provide them to government agencies.
Identify the records that you keep only on your computer and make printouts. That way, you're covered in case of a major power outage.
File all crucial papers--including contact information for your financial institution, insurance agent, utility companies in a single location, such as a fireproof safe or safe deposit box. Keep one key in the house and one with a relative or your trusted attorney. NWFCU has safe deposit boxes available for as little as $30 a year. Click here to learn more.
Notify the appropriate people where important information will be located, in case you're not available when it is needed

If organizational skills don't come naturally to you, computer programs such as Quicken® and Microsoft Money can help. These software packages have tracking programs for personal inventory financial documents as part of their money management tools.

But remember, keeping personal financial information on your hard drive won't do much good if your computer has been carried away by a flood. Always make a soft copy and store it away from your home. The Consumer Credit Counseling Service advises that you backup your files every 90 days and store them in a safe deposit box.