No one can predict when a natural (or any type of disaster) disaster will occur. However, being caught off guard and unprepared is a great burden and expense when attempting to resolve legal affairs.
Below are the five (5) recommended steps you need to consider and have in place to be legally prepared for natural disasters and other life's emergencies:
1. Once a year, sit down with your insurance agent and go over your home, auto and life insurance policies. Be absolutely certain you understand your policy limits and coverage. Pay close attention to paragraphs and sections regarding coverage for physical damage, casualty and property damage caused by winter weather events such as ice storm and snow. Review your renters or homeowner's policy for coverage concerning damage caused by wind, tornadoes, hail, fire, hurricanes, earthquakes and water damage. If you live in a flood plain, you need to purchase flood insurance. The majority of homeowner insurance policies do not cover damage caused by floods and from storm surge.
a. Your automobile insurance should include adequate amounts for uninsured motorist damages plus under-insured motorist damage. Check the limits on medical payments, casualty, loss of property damage policy limits.
b. Everyone should have adequate life insurance in place. Discuss with your insurance agent the right amount of coverage for your particular needs. You may need to increase the amount of life insurance if you own a business and have a family with young children.
2. Create a Life Document File that should be designated for important legal papers and other documents. A life document file should include: Identification documents such as birth certificates, social security cards, contracts, deeds, titles to vehicles, insurance policies, medical records, animal health records, do or cat certificates of health and rabies vaccinations and tags, pictures and a complete financial asset inventory. Keep all records in one place, this is especially important if you have to grab and run in the event you have to evacuate your home and area.
3. Have a Will drawn up, a living will, special (durable) power of attorney for property, a health care directive (power of attorney for health care). Inclement weather and other disasters can cause injuries and death. It is SO IMPORTANT to have a will and other estate planning documents in place to ensure that your final wishes are carried out, then lessening the burden on your surviving family members. For estate planning and other legal documents, please do not hesitate to contact New Century Legal Center at (630) 307-3513 or by email to: nclclawcenter@comcast.net.
4. Be sure to store your life document file in a secure place such as a safe deposit box or at home in a waterproof and fireproof box. This is also essential in the prevention of someone else using your legal and personal documents to commit identity theft, fraud and other criminal activities.
5. Make sure to tell someone that you trust about the location of your important papers and life document file. It can be a lawyer, relative, family member or close friend. There may be situations that arise whereas you are not able to communicate and at least one person should know the location of your life document file and important papers. Always keep a back up copy of important papers and legal documents with a lawyer if you have one, or a family member.
(C) 2009, by Ellen R. Day, New Century Legal Center, a legal services and investigations office. All rights reserved. www.nclc.law.officelive.com.
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