Apr 16 2012

Creating a FLOP Doc — Financial Life One Page

I finally sat down and created a “FLOP” document. It’s a financial life, one page kinda deal, though if yours needs to be a few pages that’s fine, too.

I wanted to have all of our important financial information in one location so that if I were to become incapacitated in some way, Shane or someone else could quickly step in on the bill payments and whatnot to know where everything is. It is very important for this info to be available to either my husband or estate trustee if the worst-case scenario comes into play. Following me, here?

I recently reorganized the paperwork in my filing cabinet, but I’d like to have a “table of contents” of sorts to point to the really important stuff.

If the info wasn’t particularly sensitive, I typed it. Things like “We have a savings account at ING Direct” and “we each have IRAs with Vanguard” were typed. More sensitive info, such as account numbers, I hand-wrote on the printed page. I guess I’m paranoid about my computer’s security.

The page went into my fire-resistant lock box where I’m also storing our birth certificates, marriage license, social security cards, Shane’s passport, our wills and the sort. I hope my house never catches on fire or is destroyed by a tornado, but if it does hopefully those documents will still be usable. Also, if we needed to evacuate our home at short notice, say, a crazy flood or something, it would be easy to grab the lock box and take it with us rather than going through my file cabinet.

Here’s what’s on my FLOP:

  • My legal name
  • SSN:
  • Driver’s License #
  • Birth date

Banks:

  • Name of institutions & account numbers, phone number if card is lost
  • PayPal info

Credit card:

  • Name and phone number for lost cards

Mortgage:

  • Mortgage company name, and a notation that our mortgage is paid monthly through online bill pay automatically.

Life and disability insurance:

  • Companies and account numbers

Location of our Last Will & Testament and the contact info of the attorney who prepared it

Investments:

  • College 529 plans and account numbers
  • Location of IRAs
  • Location of 401k

Info for our car insurance and homeowner’s insurance

All bills and how they’re paid (cable/internet, cell phone, electric, gas, trash, water, HOA, credit card). Some are automatic online bill pay and some we need to pay manually each month.

Medical:

  • Names and phone numbers of our physicians
  • Name and contact info for our health insurance company

More on the topic:

How about you? Do you have a document such as this one? And, am I forgetting anything in mine?



11 Responses to “Creating a FLOP Doc — Financial Life One Page”

  1. Thanks for the reminder to update our list. Wills are on our to do list this year and I just figured we’d keep it in our lock box at home. I’m curious where you (and others) keep their original will.

  2. I created a “just in case” file which I keep in our fire-resistant lock box. It has all the same things yours does… (except I don’t think i put credit card phone #s in it – that would be helpful).

    Because my blog provides some income (and my husband also runs several websites), I also included info on how to login to our sites and people to contact for help with the sites if one of us were to become temporarily incapacitated.

  3. Karen — my original is in the lock box. That’s why I have the attorney’s contact info listed there, too, in case that’s needed.

    Maybe I ought to put another copy of the FLOP (minus some account info — I figure if they at least know the banking institution or whatever that’ll be good enough) in another family member’s safe just to have available.

    Christina, that’s a good idea about site info. Maybe I should create a separate sheet for site info logins and internet passwords and the sort.

  4. Great idea! I have done a 1 page document of everything in my wallet and have that on hand, but honestly my husband wouldn’t have a clue if something happened to me and he needed to step in and pay the bills. I must get on that!

  5. This sounds like a great way to stay organized. I have all this information written down, but it’s in several different places. I keep an updated list of passwords, credit card info, passports, and insurance papers in a safe. Sometimes I worry that my wife won’t know where to look for this stuff if something happens to me.

  6. Oh, I soooo need to do this. I do have a doc with a lot of important info in it, but no directions on the (probably crazy to someone else) way I have my bills set up, etc.

  7. This is amazing. I SO need to do this. I know my husband would be up poop creek without a paddle if something happened to me. I just put together a spreadsheet that had all our passwords and such on it, but I know he probably wouldn’t even know where to look for that in an emergency. Thanks for the great idea!

  8. Very good idea. I’ve had thoughts of doing this but just haven’t ever sat down to jot it all out yet.

  9. Kacie, doesn’t it feel so much better knowing that it is all ‘written’ down somewhere?

  10. I did this in Evernote – I made a notebook called “Important Info” and then I have a note for:
    – Personal Info (ssn, dob, etc)
    – History of Residences & Employment
    – Family Medical History (including current doctors contact info)
    – Insurance info
    – Financial Info
    – Retirement Account Info
    – Home & Automobile Info
    – Inventory of Valuables
    – Bills & Utilities Info (websites, logins, etc)
    – Passwords, Logins, etc.

    I then created a secure password for Evernote and gave it to my Dad (along with copies of our wills) so if anything happens to Danny or I my Dad has access to all of our stuff.

    Maybe I’m being naive in putting all that information in Evernote, we’ll see.

  11. I’m sorta new to Evernote and I’m not super-familiar with all the features, but that sounds like a handy idea for some info. Hopefully it’s secure! :)

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Hey! I'm Kacie, wife to Shane and mother to Jonathan (7), Vivienne (5) and Amelia (2) . I write about my family's finance: how we save money, improve our spending, and plan for the future.

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I'm adopting a much slower-paced posting schedule, and treating this as a hobby blog now.

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