Feeling overwhelmed at times by all the paper in your life? Loan documents, social security documents, health documents, mortgage documents, real estate purchase documents, bank statements, credit card statements, investment records, wills and power of attorney, purchase records, business records, birth certificates, passports, military records, marriage and/or divorce papers, and the list goes on. Oh yes, let us not forget all our tax documents!

The question remains what to do with all these documents: where to store them, how to organize them, and lastly how long to keep them. Well, here are a few suggestions.

First of all, gather all your documents and divide them into groups similar to those outlined below.

1. Originals that you must keep but rarely access.

This group might include military records, marriage/divorce certificate, older educational records, citizen ship documents, various legal documents, etc.

What goes into this group, of course, will vary from person to person. Important here is that you pull out all the documents your rarely need, nonetheless must keep forever, and put them into a safe place.  You might consider renting a safe deposit box at your bank or some other  institution.

2. Next are the documents you do access from time to time and must keep.

Hence you might want to keep them a bit closer at hand. Examples of documents in this group include medical directives, health documents, wills, power of attorney papers, etc. In all likeness you will keep most of those documents forever as well. Consider investing and storing those documents in a fire resistant home safe instead of a filing cabinet. This should greatly contribute to their safe keeping.

3. Documents you need to access and keep for a certain amount of time.

Investment and Retirement documents form the bulk of this group. Included are your standard 401k/IRA/Retirement documents, other investment account statements, insurance documents, loan documents, real estate related documents (purchase, improvements, sales, etc.). Storing these documents in a filing cabinet at home would be adequate, twice since you access many of those documents on a more frequent basis. The length of time you keep the above documents varies. Most real estate and investment document needs to be retained for at least 7 years after the investment or real property has been sold. When in doubt, check with your tax professional.

4. Documents you don’t need to access but need to keep for a certain amount of time – Tax Documents.

Now this can grow into a rather large group. Here we are talking about anything and all that is and has been used as supporting document with your tax returns. Make sure all documents in this group are properly organized and stored in a locking file cabinet.

Most tax documents need to be retained somewhere between three to seven years. But again, check with your tax professional! Retention requirements can vary depending on filing dates and a number of other special situations.

Having organized and stored your important papers in a safe place will ultimately make your life easier in addition to giving you peace of mind!

This is the stuff people don’t want to talk about, but it’s stuff that’s absolutely necessary.

Are you taking care of parents as well as your children? Have they, as well as you discussed health care wishes in the event you are unable to make a choice? Have you signed an Advanced Directive or chosen your health care power of attorney? Living the life you want, up until the end, depends on getting this “stuff” done.

All of us should have a Living Will. Here are answers to the most common questions so you too can have peace of mind.

1. What is an advanced health care directive?

Advanced health care directives are written instructions communicating  your wishes regarding care and treatment should you no longer be able to make your own health care decisions.

2. What are the components?

An Advanced Health Care Directive includes:

a. A Living Will which outlines your medical and treatment choices

b. Health Care Power of Attorney – the person you appoint to make medical and treatment decisions when you are no longer able to do so yourself.

3. How are they used?

If you are no longer able to make choices regarding your health care, these documents will communicate to your physicians what treatments you want or don’ t want such as artificial administration of food and fluids, or even the use of CPR or a breathing machine.

4. When do they become effective?

These forms are only effective when you cannot communicate your desires yourself. It may be used in situations where you are terminally ill and will die soon. In that case, life-sustaining procedures that only prolong the dying process will be withheld as you have indicated. Another time they will come into play is if you suffer from an event or illness that leaves you permanently in a coma. Because situations are varied, it becomes important to be as clear as you can, and make sure your POA understands your desires.

5. What happens if I don’t have one?

Ever state has a hierarchy that is followed that describes who is your next of kin and who will make decisions for you. For instance, if you are a minor child, it will be your parents. If you are an adult with a legal spouse, that person becomes your decision maker. It becomes complicated when family members/significant others disagree about what your desires are. This is why these forms are so important.

6. Can I change my mind?

You can change your mind about what you have written and who you choose as your decision maker at any time by destroying the old forms and making a new one. Make sure the new forms are given out to those that need them such as your decision make, family/significant others, health care provider, hospital, etc.

7. If I have a living will, does that mean I won’t get treatment?

This is a common misconception, and the answers is no. These forms do not mean NO CARE. You should always get the care and comfort that you require.

8. Where do I get these forms?

Often times, your health care provider or hospital will have them. However, it’s best if you do them before you ever see these providers. You can obtain them from your attorney, or there are several online sources where you can get state specific documents for free.

9. Do I need to see a lawyer?

No. You can fill these forms out yourself following the form directions. That said, if you situation is sticky, it would not hurt to get professional legal advice. In most states the forms do not have to be notarized. Make sure you get the required witnesses to sign these forms. They cannot be relatives or employees of your health care provider, hospital, clinic, etc.

10. Where can I find more information?

Online, www.LawHelp.org provides free information for most states. Most state departments of health or your state legal association will be able to point you in the proper direction.

Advanced health care directives are written instructions that communicate your wishes regarding care and treatment should you no longer be able to make your own health care decisions. Some directives are broken down into two parts – a Living Will and a Health Care Power of Attorney. The exact language and type of document will vary depending upon the laws in your location.

Basically a Living Will allows certain treatments to be withheld or withdrawn if using them will only prolong your dying process; or if you are unconscious ( and in a vegetative state) and there is no hope for recovery. An example of treatment may include feeding tubes or resuscitation if you heart stops working.

If you are unable to make health care decisions, either temporarily or permanently, a HCPOA allows you to appointment someone to make them on your behalf. It is in your best interest to choose someone to who understand thoroughly your desires and is willing to honor your requests. Should you not designate a decision making person(s), generally your legal next of kin will be looked for to make that decision for you. Caution; please note that it is your “legal” next of kin who will be making decisions, and not necessarily your significant other of 25 years. In today’s world, this is another very important reason to have these documents in place.

From the standpoint of a health care provider who has worked from intensive care to hospice to primary care, I cannot stress enough the importance of having these documents completed…NOW. One never knows when one will have need of them, and these documents will save you and those that love you much grief and suffering.

In many cases, you can obtain forms from your health care provider. Forms are also readily available online. A simple online search using “Advanced Health Care Directive” on Google pulled up 680,000 pages. You can break that down further by including your state/country.

Once you have these forms filled out, signed, witnesses, and perhaps even notarized, make several copies and put the original in a safe place. Make sure that the person/persons whom you have designated as your decision make have a copy of the document, as well as your health care provider, hospital, and anyone else who needs one. Please make sure that everyone involved knows your wishes.

And remember, should you change your mind..just fill out a new form. The most current form is always the valid one.

Do It Today!