Nearly everyone groans when June 30 pops up on the horizon. “Oh no, I’ve got to get my paperwork ready for my accountant”. Being organised for your annual tax return will help you reduce your stress levels and how much you pay your accountant, but we’re not just talking about financial paperwork here. What about all of the other documentation that is important to maintaining peace of mind for you and others if you’re not around to find it?
Here’s a checklist
It’s very detailed but if you lost your wallet or handbag how would you prove your identification? Is your computer the only place you keep email addresses? If your mobile phone was lost or stolen could you find all the stored phone numbers? What would happen to all of this information if you die or are incapacitated?
| Personal records | |
| Birth, marriage and death certificates | |
| Divorce papers and custody agreements | |
| Current passports | |
| Government identification details | Medicare, Centrelink, Driver’s Licence |
| Contact book of family and friends | Include people mentioned in your will |
| Email addresses and website addresses | Such as internet banking (include passwords but make sure they are kept secure) |
| Professional advisers | Accountant, lawyer, financial planner |
| Current and previous employers | Contact details |
| Financial Records | |
| Bank accounts, superannuation funds | Statements |
| Investments | Managed funds, Term deposits, Statements |
| Insurance policies | Policy documents |
| Tax returns, BAS and PAYG Payment Summaries | Keep for at least five years |
| Partnerships or shareholder agreements | Keep a secure copy |
| Assets | |
| Personal valuables such as electronic equipment, jewellery, antiques, collectibles, artwork | Take photos, record serial numbers, save receipts and warranty information (don’t forget to photocopy receipts in case they fade) |
| Real estate | Titles, deeds, mortgages, sale records |
| Lifestyle assets | Registration details of boats, cars, caravans |
| Debts owed by others | Agreements or written understandings |
| Estate plans | |
| Estate planning documents and records | Will, Enduring Power of Attorney, Advance Health Directive. Make sure your Executor knows where everything is. |
| Funeral details and funeral plot titles | Prepaid arrangements or insurance cover |
It can be overwhelming when you see how much you need to record but once you have set up a secure system, with everything registered or filed, you can relax and enjoy life.
Call (02) 4926 2300 or email us.
Let the team at Leenane Templeton help with getting your paperwork and finances in order. Call us TODAY!
Comments are closed.