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Writer's pictureKeith Richardson CPA, CFP, PFS

PREPARING FOR EMERGENCIES

Will you and your loved ones be ready the next time disaster strikes? By planning ahead, you can protect yourself and alleviate some of the confusion, fear, and loss.


The downloadable worksheets below will help you get started. When you’re caught in an emergency situation, you won’t have much time to retrieve information. Organizing contact phone numbers, financial records, medical and property insurance policies, and personal identification information will make it easier for you to access resources quickly. The time you spend on these worksheets now can potentially save you hours of headaches down the road.


Review this information regularly to make sure it’s up to date. Place it somewhere that is secure but easily accessible. We also recommend making photocopies of important documents and attaching them to the worksheet. Important records include financial statements, personal will, power of attorney, insurance policies, and estate documents. Also, storing these documents electronically using the cloud is recommended. Finally, you may want to consider giving a copy of these worksheets to someone you trust, such as your attorney or financial advisor.


Saving for Emergencies

Financial specialists agree that an emergency fund is an essential part of a financial preparedness strategy. This fund gives you quick access to money without any penalties or restrictions. Experts recommend setting aside a minimum of three to six months’ worth of total living expenses. This emergency fund should be separate from your regular checking account and is set up just for that purpose—emergencies. In the event of a natural disaster, it’s also recommended to have cash available at hand to support your family for three to five days, since ATMs and banks may not be easily accessible.


Medical Information

Before a medical emergency occurs, have all your vital medical information for yourself, family, and pets in writing. Some examples of important medical information are physicians’ numbers, blood types, current medications, and insurance identification numbers.


Emergency Contact Information

In addition to local emergency contacts, it’s important to ask relatives or friends who live out of state to serve as a “clearinghouse” for information about you and your family, should a widespread emergency situation occur.


Reunification Plan

You and your family members should decide on a secure location where family members can go should you get separated during an emergency. During a widespread disaster, family members may not be able to get to that secure location immediately, but you will know they are attempting to get there as soon as possible.


Putting It All Together

Having your important personal information in the worksheets provided can help you assemble and organize pertinent documents that will be useful during an emergency. By planning ahead, you can help protect yourself and your loved ones during a crisis. Please modify the following categories as they correspond to your individual situation.



MKT-83767-0219 Tracking #1-833908 (EXP.12/24)

 

The information provided is not intended to be the primary basis for your investment decision. This material is for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.


Securities and advisory services offered through LPL Financial, member FINRA/SIPC.

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