by Nancy Savage, Executive Director
Most people make New Year’s resolutions that are on the vague side — exercise more, eat less, not to lose our temper, get organized, etc.
This year, I am asking you to make this one resolution that I will join in making with you.
Resolved: To Buy and Prepare a Red Folder for my loved ones that contains my important information on death benefits.
Almost daily, I counsel loved ones who are trying to locate important documents that relate to the death of a member or a spouse of a member. I have vowed to help as many of our members be prepared for when this day becomes their reality.
On its website, the Society has several of the important documents that you should have in this folder. They are maintained under the Membership section, Members Only, Survivor Information, and include both “Important Information for a Survivor Annuitant” and “Your CSA Number.” You will want to include your CSA number, documentation of your annuity, and the amount of annuity (if applicable) left for your spouse.
Additionally, you should also include a description of any life insurance policies including your FEGLI, as well as other policies.
If you are leaving any benefits to your surviving spouse, you should have a copy of your wedding certificate. If you were previously married, you will need to have a copy of your divorce decree from that marriage. Copies of legal documents to be gathered include your will, your power of attorney, and the like.
Why Red? It stands out as being important, it's easy to spot, and your loved ones can be shown the folder and what it contains. You will gain peace of mind and so will your loved ones.
I also resolve to report my progress in each issue of the Grapevine, as I think it is going to take more than buying a red folder to “get my affairs in order.” I sincerely hope that you take this challenge with me.
The following articles were in a series previously published in the Grapevine in 2017. Click on the following individual links or download the complete set (item #12).
1. Getting Started
2. Annuity and FEGLI Life Insurance
3. Other Life Insurance and Wills
4. Wills/Trusts, Executor and Financial Power of Attorney
5. Power of Attorney for Health Care/Advance Medical Directive and Living Will
6. Have you been married before?
7. Have you served in the armed services?
8. List of credit cards, bank accounts and loans
10.What constitutes a Red Folder and where should you keep it?
11.FEGLI Living Benefit
12.Complete Set of Red Folder Series