Bank Account Information

Would your family know where your bank account information is located should something unforeseen happen to you? In our world of electronic access to bank and investment accounts, we often do not get paper copies of statements for our bank and investment accounts. How would your loved ones know what you have if you were no longer here or became incapacitated? You should keep a list of bank and investment accounts along with account numbers in a safe deposit box so that, if necessary, your family can easily find your assets. This should be updated on an annual basis, and don’t forget to tell your executor or power of attorney where the list is located.
/posted by Suzan Ross, CPA, PFS