In an emergency situation, most of us would be too overwhelmed to think clearly about which documents to take—as well as to remember where these items are stashed away. That's why it's so important to prepare for emergencies well in advance. The following checklist outlines the steps you should take to ready yourself now in case of a sudden need to evacuate down the line.
Emergency evacuation checklist
Inventory home possessions. Documenting possessions—via videotape or a series of photographs, for example—is crucial for a variety of insurance purposes. With videotape, you can voice record the approximate value of items as they are photographed. You should also note any renovations, such as a remodeled kitchen (be sure homeowner's insurance reflects the value of these improvements).
A more precise inventory can be done on a computer program or with an inventory booklet available at any stationery or office supply store. List each item, its value, and its model and serial numbers where available. Collect receipts, and get appraisals for valuables such as jewelry, heirlooms, antiques, and artwork.
You need to include the small stuff. Items like towels, silverware, and underwear can add up. Record outside, too: automobiles, recreational vehicles, and improvements such as a new fence or deck. Once the inventory is completed, your client should store one copy in your safe deposit box, one at home, and one with a more distant friend or relative.
Rent a safe deposit box. The safe deposit box should hold a number of documents in addition to the home inventory, including deeds to home and vehicles, birth certificates/naturalization papers, passports, originals or copies of insurance policies, investment certificates, marriage certificates, and powers of attorney. A copy of the will should also be kept in the box, with originals stored at the attorney's office or local registrar of wills.
While convenience may win out, your client should consider using a safe deposit box in a bank that's farther from his home. The local bank could be under the same floodwaters or caught up in the same forest fire as your client.
Determine cash and credit reserves. You need to keep a small amount of cash or travelers' checks at home. Local ATMs and banks may shut down, as occurred in New York City after the 9/11 terrorist attacks. Consider keeping some funds in an out-of-state money market mutual fund that won't be affected by a local disaster.
You should also keep your credit card balances low or paid off. They could be out of work for a while, and a credit card with a healthy cushion could prove an invaluable source of support. Better yet, you need to save enough cash in a money market account to cover three to six months' worth of minimal living expenses. That will save the hassle and expense of running up a credit card balance.
Assemble an "evacuation box." This is a box or a fireproof file in which you can store important documents or other items they can grab quickly. The box should be durable, lockable, and contain self-sealing plastic bags to protect documents from water. You should be sure to keep the box in the house, near an emergency exit—not in an unattended car.
Items to keep in the box include:
- Key to the safe deposit box
- Cash/travelers' checks
- Your phone number, as well as numbers for insurance agents, attorneys, and other financial advisors
- Account numbers for bank, credit card, and investment accounts, and Social Security numbers for all family members
- Copies of documents in the safe deposit box, such as wills, insurance policies, the house inventory, and the title to the house
- Copies of your last three tax returns
- Current backup of their computer files
- Copies of their driver's license numbers
- Miscellaneous items like negatives of family photos; medical information such as prescriptions, doctors' phone numbers, and immunization records; phone numbers for family and friends
