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Vulnerable

June 19th, 2010 at 12:35 pm

I finally finished updating my financial notebook and made copies of the information to give my parents to keep in case of emergency. It makes me feel very vulnerable having all that information in one place. All my assets are listed and how to access them. If someone unfriendly got ahold of it, it could ruin me. But on the other hand unless I do that, my parents would have no idea where many of my assets were or how to access them. For example, my I-bonds are electronic thru Treasury Direct. I never get mail or email concerning them. Without access information they wouldn't know they even existed, let alone how to cash them in.

Now that I have that done I need to get my will updated. I might do one on the internet. The last time I did it my nieces were very young and I didn't include them in the will. Now I plan to cut out my sister and brother and leave everything equally to my mom, dad and 2 nieces. My nieces are still young and I really don't think it's good for their character for young people to have money handed to them in their 20's and 30's or younger. I think people learn more when they have to struggle a bit to get money and make choices about what's more important to them when spending money. Easy money is a sure way to ensure they don't value money, or the work that goes into getting it. So hopefully I will still be around for at least another 20 years or so Smile

I finished reading the library book Nauti Deceptions by Lora Leigh. Romance - very good.

4 Responses to “Vulnerable”

  1. baselle Says:

    I think I'd be nervous also - you could get burgled or worse, your parents could get burgled. Any thoughts about simply putting the notebook and other information in a safety deposit box at your bank then referencing the box in your will or in an envelope? I think you can set it up with the bank that only you or your parents can access the box personally w/an ID.

    I have to say that its only been in my 40s that I developed enough skills with money to be comfortable with my inheritances. In my 30s I would have had too much credit card debit and other issues.

  2. Elisabeth Says:

    Billions of dollars in life insurance is never claimed each year because the beneficiaries don't know it exists. Insurance Co. count on this. You are smart to make sure someone knows about the I-Bonds.

  3. patientsaver Says:

    I don't think it would be a good idea to put your notebook info in a safe deposit box. When someone dies and they have a will, the safe deposit box is frozen and inaccessible until the whole estate goes through probate, which can be a lengthy process.

  4. retire@50 Says:

    I thought about a lot of different options and decided to 1. keep the information in my house where I can easily update it, but keep it semi-hidden. Like in a different room from my office and in with a lot of other binders - not perfect, but not casually accessed. And 2. give a copy to my mom and dad and tell them to hide it in their home with their other valuables. They hide stuff all the time. Unfortunately if they were to die, it would be a huge mess finding everything, since they don't have it written down anywhere. But I want them to have it, and know about it in case I am unconscious for a while, there is a fire or I die.

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