These are the documents you need to safekeep for easy access anywhere anytime and also make available to your family.
Last Will and Testament
Everyone should have a will that sets forth what you expect to happen to your assets after you pass on. Without a will, the state where you reside, not you, will decide how your assets are distributed after you die. This process known as probate, can take several months, even years.
Until the probate process is over certain assets owned are frozen. This can create real financial hardship for your family.
One way to avoid probate and protect your assets against taxes is to set up a trust. Depending on your needs, certain assets can be kept in a trust and passed on to beneficiaries.
This document specifies your wishes regarding life-sustaining treatment. If you can no longer make medical decisions for yourself, a living will spells out what if any life-sustaining measures you want medical staff to take.
Power of Attorney
Power of attorney gives a chosen representative the power to make financial decisions on your behalf if you are incapacitated or otherwise unable to do so.
Healthcare Power of Attorney
Similarly, a healthcare power of attorney is another important document. This document specifically relates to handling decisions about your healthcare.
Contracts, Property Records and Insurance Documents
Any active contracts should be carefully stored for reference.
You should also have these records for your current protected assets, including homes, cars, artwork, jewelry and other items.
Your insurance documents should also be carefully and safely stored. Life insurance policies need to be easily accessible by beneficiaries.
Ownership Records for Digital Assets
For digital assets like crypto, you might not have documents that directly show ownership. Instead, consider storing instructions that will help the beneficiary take control of your assets.
Always remember - you should never store store passwords and similar sensitive information in Kubera.
It can also be smart to keep financial records such as bank account details, investments documents, big purchase receipts, bank statements, investment statements, and paycheck stubs, and Tax returns. In fact, it can be useful to keep these records organized using Kubera for easy reference if you’re claiming credits and deductions. You should keep these records for at least three to seven years, just in case you’re audited by the IRS.
Copies of important documents like marriage licenses and adoption papers. While you might need to store originals in a physically safe place like a safety deposit box, copies can also be digitized and stored using a tool like Kubera.
Valuable instructions on how to access your belongings like your computer, or phone, where hard copies of important records and documents are, including physicals safety deposit boxes or safes, and the appropriate combinations or how to find the keys, social Security cards, drivers licenses, birth certificates, and other identifying information
Know where everything is — Share when the time comes
In fact, Kubera can essentially be your “financial life portfolio” that includes all the information you need to manage your affairs. On top of organizing these important documents, Kubera can also help you track the value of your various assets, so you have a total picture of your life’s work and what you own.
And, at some point, when your heirs or beneficiaries need access to the information, Kubera can help you share it at just the right time. If you’re inactive for a certain number of days and don’t respond to Kubera’s attempt to reach you, a mail with all your information in downloadable format will be sent to the Beneficiary. Kubera will provide you with peace of mind, safe in the knowledge that your family is prepared no matter what happens.
Kubera helps you organize all your wealth in one place and keep regular track of your net worth. It also ensures safe transfer of this information to your beneficiary.
Sounds interesting? Please Sign Up and take the free trial. We want you to take your time to carefully organize your assets, set your beneficiary and track the updates.