How to build an “In case of death binder”

Eponymous to its name, an ‘in case of death binder’ or ICE, is a guidebook of sorts for your loved ones if you were to die suddenly, fall ill, or be injured. A death binder encompasses details about what is our last wishes, how we want our funeral rituals to be performed, how the finances are to be dealt with, and much more. Simply put, a death binder is a roadmap for those you would leave behind. For some people, preparing a death binder may seem flabbergasting, but there are veritable reasons to do so.

Needless to say, an ‘In case of Death’ binder offers your family a concrete plan to follow in terms of medical decisions, financial trajectories, customs, last wishes, and so forth. In addition, the emotional value that a death binder can have for the near and dear ones you would leave behind is insurmountable, to say the least. Now that we know about the fundamentals of a death binder let us get into its other nitty-gritty details.

HOW TO PREPARE A DEATH BINDER – A STEP-BY-STEP APPROACH 

Setting the Intention

The first step in preparing a death binder is to ask yourself some hard questions about your life and choices. For instance, how do you envisage your end-of-life experience, what kind of medical care do you want, who are the people your death will most impact, and likewise! 

Gather the Documents

The second step in preparing an ICE binder is to gather all the information and documents that ought to be readily available in case of a medical emergency, death, or natural disaster. You should have a list of all the vital documents, such as medical papers, insurance policies, bank account numbers and other details, social security details, and so forth. 

Organize Your Documents

The penultimate step in preparing a death binder is to put your documents in a physical file or a digital locker. You can also opt for both. In case you also want to include sentimental items in your death binders, such as letters and keepsakes, a physical binder will be your best option. The approach will enable your loved ones to look through the documents as if they have unearthed some time capsule brimming with memories. Nevertheless, it is always safer to keep a digital copy of the binder for emergency and unprecedented situations.

Stir Conversations

The last step in preparing an ‘In Case of Death’ binder is to talk to your loved ones and let them know what you are doing and why it is essential. Although end-of-life planning is a crucial topic for adults of all ages, it can be challenging to find a way to usher in the topic, irrespective of your life’s circumstances. Nevertheless, it is imperative to push oneself and take baby steps to start a conversation about the death binder, no matter how uncomfortable it is!

Now that we know about the four crucial steps to help you prepare a death binder let us look at some of the indispensable documents that should be a part of your ICE binder. 

8 things that must be a part of your in case of death binder

1. Will and Estate Planning Details – The most crucial element of any death binder is the Will and anything related to your estate and property assets. It would help if you made it clear where your is to reduce the amount of red tape for your beneficiaries.

2. Financial Documents – Pension policies, investment accounts, investments, savings, and account details are all vital parts of a death binder. Other legal documents that you should consider including in the ICE are marriage certificates, birth certificates, mortgage details, details of personal loans, and likewise. 

3. Healthcare Wishes – You shoul spell out your medical and end-of-life wishes about life support, advanced directives, organ donation, and likewise in your death binder. 

4. Funeral, Burial, or Cremation Details – Your death binder should be a way to make it easier for your loved ones whom you have left behind to fulfil your last wishes and say goodbye to you in the way you had always wanted. Whether you want an elaborate funeral or a simple ceremony, you should outline every detail in the ICE. 

5. Life Insurance Information – In case you have private or workplace life insurance, make sure to include its hard copy in the death binder. It will help your loved ones file a claim with the insurance company in a timely fashion.

6. Contacts – Your death binder should include a list of phone numbers and other information about your doctors, medical providers, and, likewise, in case you were hospitalized. You can also jot down the contact information of your professional acquaintances such as your lawyer, CA, etc. Lastly, make sure to add emergency contact information and a list of friends and acquaintances you want to be notified of in case of your death.

7. Passwords – It is a good idea to record all your passwords and other digital and social media information in your death binder. It is safer to choose password managers for this aspect of your ICE. 

8. Letters – Last but not least, a death binder is incomplete without letters and photos you want to hand over to your loved ones. They are a way to help your family and friends deal with the grieving process by providing comfort, reassurance, and an element of closure.

There we have it, a comprehensive overview on preparing an ‘in case of death’ binder. It is noteworthy to remember that a death minder, ironically, is a living document that should be updated regularly. At times, doing everything might be a challenge, and it is in such a context that a financial advising agency might be of help. Likewise, we live in a death-phobic culture and making decisions about our end-of-life phase can be anxiety-inducing. The key is to plan, take things slow, and take professional assistance for finances as and when required.