Getting your documents in order may not be at the top of your to-do list, but it is one of the most thoughtful and practical things you can do for your loved ones. At an already stressful time, a little preparation can make a big difference. From wills to insurance policies, here are four document organisation tips that help you plan with confidence.
1. Make an ICE document
An ICE – in case of emergency – document summarises everything someone would need if they were incapacitated or passed away. Include the contact details for your solicitor, accountant, and financial adviser, and details of where your keys are kept. Add details such as pension providers, insurance policies, account numbers, and the location of your will. This single document can prevent hours of confusion later on and ease the administrative burden for those handling your affairs.
2. Create a simple filing system
Begin by gathering together all your important paperwork, financial records, legal documents, insurance policies, and identification. Recycle anything outdated – but keep tax records for at least six years and set up a clearly labelled filing system. Whether you use folders or a digital alternative, make sure it is accessible and easy to understand.
3. Set up a lasting power of attorney
A UK power of attorney allows someone you trust to make decisions on your behalf if you lose capacity. There are separate LPAs for property and financial affairs and health and welfare. This gives you peace of mind and helps avoid delays in urgent situations. For more information if you are looking for a UK power of attorney click here.
4. Write or review your will
A valid will ensures your estate is distributed according to your wishes. Without one, your assets are subject to the rules of intestacy, which may exclude partners or stepchildren. You should update your will after major life changes, such as marriage, divorce, or the birth of children. A letter of wishes can also guide executors on personal or sentimental matters, even though it is not legally binding.
