IFA FinPlan: Using the Vault Feature

Thursday, February 5, 2015 5,891 views

Clients who have signed up for IFA FinPlan have the ability to securely store an unlimited number of files. In this article, we will discuss some of the files that you may want to upload to your vault. Please note that an iOS-enabled device may be used for this purpose. As of this writing, Android is not yet supported.

Starting with personal documents, having all forms of identification in one place can be extremely helpful in the event of an emergency or a premature death. These would include drivers licenses, passports, birth certificates, and Social Security information.

Vital legal documents would include wills, deeds, trusts, power of attorneys, codicils, prenuptial agreements, buy/sell agreements, adoption papers, marriage license, and property titles. Please note that the vault is not in any way limited to documents. You can upload a video or audio recording of your will. We can think of many other videos, photos, and audio recordings you may want to store and have available to future generations.

We have barely scratched the surface on how useful it can be to have all your important financial documents stored in one place. Past tax returns with all the supporting documents would be an excellent start. Regarding insurance policies, even though the information pertaining to them may have already been entered (either manually or by providing a login to the insurance company’s Website), it is still a good idea to have the policy documents stored in the vault. Also, storing a recent statement from each of your bank and investment accounts (including employment-related pensions) can also be helpful to your heirs or trustees in the event of untimely death or disability. Regarding safe deposit boxes, we suggest creating and uploading a document describing their locations (along with the locations of the keys). Lastly, we also suggest creating a household inventory list and uploading photos and related documents of valuable household items such as works of art.

A natural question to ask is just how secure is the information stored in the vault. The document shown below answers this question.

If you would like to learn more about the vault and the other features of IFA FinPlan, please call us at 888-643-3133.

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