DEBORAH ADAMSON
The Honolulu Advertiser

Most people prepare for calamity by securing their homes against earthquake, or strong winds and rain. But what many tend to overlook is something just as critical - protecting their legal and financial records.
"It's a matter of being prepared," said Dale Lee, president of the Hawaii State Bar Association. "We don't do it unless it happens to someone else."

Don't wait to organize until it's too late, when you've lost your house or after your records get damaged. Trying to backtrack could be a nightmare.

"Reconstructing in times of crisis is like talking when you're angry," Lee said. "It's not good."

Keeping a master list of your records also comes in handy in other situations.

For instance, when a husband who takes care of investments in the family dies, the wife wouldn't have to scramble to find out whether she's going to have enough to live on. Adult children could better handle the affairs of a deceased parent in another state if records are organized.

But many people still don't do it, Lee said. It's not unusual for him to see families become overwhelmed by the affairs of a dead person whose records weren't organized.

If you're old enough to have some financial responsibility, consider keeping your records in order, Lee said.

Start by creating a list of your assets and liabilities as well as legal and family records. For most documents, a copy would suffice, said Larry Myers, a tax and trust attorney at Kobayashi, Sugita & Goda in Honolulu, where Lee is a partner.

The exception is a will; an original is required in probate court.

The list should include the following: bank and investment account numbers and contacts, insurance policies and agents' names and phone numbers, credit card accounts, mortgage and car-loan information.

Include phone numbers for the family attorney, accountant, doctor and other professionals.

Keep a copy of the list at a separate location, such as your office or a safety deposit box, or with a trusted family member or friend.

Take a photo of your possessions at home in case you need to file a claim. Make sure someone knows where to find the list or records in an emergency. Finally, update your information with any changes.

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