Agricultural Extension Service, South Dakota State College
To prevent confusion, delay, and loss of money, family papers should be systematically listed, filed, and stored where they are readily available. These papers are necessary- In case of a crisis, such as death or loss of property, partial or total. To provide a summary of financial situation. To avoid financial loss due to lack of information. The wife, as well as the husband, should be familiar with family business affairs, Older children should know where business papers are kept and the persons to contact for advice in an emergency. The family should have information about the following- The location of valuable documents such as deeds, leases, contracts, insurance policies, wills, trust agreements, military service papers, social security records and similar papers. Records of the family business, farm, or employment. Any outstandin,g debts, notes, or mortgages and the. names of persons holding them. The name of the bank where savings and checking accounts are kept and the location of the bank books. The names of business, personal, and legal advisers. The nature of any retirement plans, including social security. The enclosed form, A Record of Important Family Papers, will help you set up a businesslike record keeping system. It is a good idea to fill out two copies of this form-one to go in your safe deposit box and one for your business center at home.
Lynch, Alverda, "Organizing Family Records and Business Papers" (1963). SDSU Extension Circulars. 587.