I can help you organize, arrange, store, and digitally copy all of your important documents. In addition I can conduct a thorough digital home inventory for tax and insurance purposes.
Why have a digital record of your possessions? Take this short test. Leave the room you are now in and write down everything of value on a piece of paper.
Did you get everything? Now imagine a disaster such as fire, weather or even major theft of your valuables. Your insurance company can only compensate you fairly for items you can prove you had. The more detailed the list - the higher the compensation.
Imageine having your possessions documented on digital media. A picture and detailed description of your valuables is the very best way to record what you own.
What is a digital home inventory ?
Threr are two types of digital inventories. The first is an inventory of important documents. This is done by scanning your documents into a computer. Most often this can be done in less than an hour. The digital documents are then stored on a compact disk (CD)
The second is an inventory of your possessions in and around your home. This is done with a digital camera and produces either still images (pictures) or a video image(movie). One advantage of a digital video is that you can describe your items as they are being filmed. The video is then recorded on a DVD.
Digital Household Valubles and Important Document Inventory
Inventory your household possessions by making a digital list of everything you own. If disaster strikes, this list could:
• Help you prove the value of what you owned if those possessions are stolen,damaged or destroyed by fire, weather or vandalism.
• Make it more likely you'll receive a fast, fair payment from your insurance company for your losses.
• Provide documentation for tax deductions you claim for your losses.
To conduct a thorough digital home inventory:
• Record the location of the originals of all important financial and family documents, such as birth and marriage certificates, wills, deeds, tax returns, insurance policies, and stock and bond certificates. Keep the originals in a safe place and store copies elsewhere. You'll need accessible records for tax and insurance purposes.
• Make a digital record of your possessions.
• Go from room to room. Describe each item, when you bought it, and how much it cost.
• Record model and serial numbers.
• Include less expensive items, such as bath towels and clothes. Their costs add up if you have to replace them.
• Be sure you include items in your attic, basement, and garage.
• Note the quality of building materials, particularly for such furnishings as oak doors or expensive plumbing fixtures.
• Photograph the exterior of your home. Include the landscaping - that big tree in the front yard may not be insurable, but it does increase the value of your property for tax purposes. Make special note of any improvements, such as a patio, fencing, or outbuildings.
• Photograph cars, boats, and recreational vehicles.
• Make digital copies of receipts and canceled checks for more valuable items.
• Get professional appraisals of jewelry, collectibles, artwork, or other items that are difficult to value. Update the appraisals every two to three years.
• Update your inventory list annually.
WHAT TO KEEP OFF SITE - Rent a Safe Deposit Box
Safe deposit boxes are invaluable for protecting originals of important papers. If you don't have a safe deposit box, keep copies in a firer resistant storage box or with family or friends. Original documents to store in a safe deposit box include:
• Deeds, titles, and other ownership records for your home, autos, RVs, boats, etc.
• Birth certificates and naturalization papers.
• Marriage license/divorce papers and child custody papers.
• Passports and military/veteran papers.
• Appraisals of expensive jewelry and heirlooms.
• Certificates for stocks, bonds, and other investments.
• Trust agreements.
• Living wills, powers of attorney, and health care powers of attorney.
• Insurance policies (copies are sufficient).
• Home improvement records.
• Household inventory documentation.
Generally, originals of wills should not be kept in a safe deposit box since the box may be sealed temporarily after death. Keep originals of wills with your attorney or a family member.
After creating a digital record on a CD or DVD, keep at least one copy out of the house with a family member and another with your attorney or a safe deposit box if you have one.