Keeping Your Documents Safe in Natural Disasters

Unfortunately, natural disasters are a common occurrence that can devastate homes, businesses and communities. When a natural disaster occurs, your immediate concern should be the safety of yourself and those around you. Once the immediate danger passes, however, having access to your financial records is crucial for beginning the recovery process.

In order to protect yourself, your family and your assets, it's important to develop a plan for the safeguarding of your critical documents and valuable items in the event of a natural disaster.

Why is it important to have a plan in place?

Natural disasters can strike at any time and without warning. Hurricanes, floods, wildfires, tornadoes and earthquakes are just a few examples of disasters that can cause extensive damage to homes and businesses, resulting in significant financial losses. In addition to damage caused by the disaster itself, there's also a risk of looting and theft in the aftermath of a disaster. This makes it essential to have a plan in place to safeguard your critical documents and valuable items.

Without a plan, you may be unable to access important financial documents or replace valuable items, resulting in long-term financial and emotional consequences. You could also fall victim to identity theft if important documents fall into the wrong hands. By having a plan in place, you can ensure that you're able to access your critical documents and valuable items quickly and easily following an unexpected disaster.

What documents and/or items should you consider protecting?

There are several types of documents and items that you should consider protecting from natural disasters. These include, but are not limited to:

Financial and Legal Documentation

• Personal identification documents (passport, driver's license, birth certificate)
• Housing documents (lease or rental agreement, mortgage, deed)
• Vehicle documents (loan documents, VIN, registration, title)
• Expense documents (utility bills, credit cards, student loans, alimony, child support, elder care, automatic payments)
• Financial account information (checking, savings, debit cards, retirement, investment)
• Insurance policies (homeowners, renters, auto, life, flood, appraisals, photos and an updated list of valuable items)
• Income statements (pay stubs, government benefits, alimony, child support)
• Tax statements (federal/state income tax returns, property tax, vehicle tax)
• Estate planning (will, trust, power of attorney)
• Investment records
• Vital records (birth, marriage, divorce certificate, adoption, child custody papers)

Medical Information

• Health and dental insurance, Medicare, Medicaid, VA health benefits
• List of medications, vaccinations, immunizations, allergies, prescriptions, medical equipment and devices, pharmacy information
• Living will, medical power of attorney
• Caregiver agency contract or service agreement
• Disabilities documentation
• Contact information for preferred doctors, specialists, dentists, pediatricians, veterinarians

Emergency Contact Information

• Employers
• Schools
• Social service providers
• Home repair services (utilities, plumber, roofer, carpenter, electrician)

Valuables and Priceless Personal Items

• Priceless personal mementos, family photos and keepsakes
• Possessions with monetary value, including jewelry, art and other collectibles

If your home or income is impacted by a natural disaster, you will need this documentation to request assistance from insurance providers and from government disaster assistance programs. You should also consider storing cash and other financial assets in a secure location—keep in mind that you may not have access to ATMs or banks during or immediately after a natural disaster. Also remember that cash is typically not covered by your homeowner’s insurance policy.

Additionally, make sure that you have a disaster kit ready with basic supplies such as food, water and a first aid kit.

How can you protect your documents and valuables during natural disasters?

There are numerous ways to keep your important information safe, including:

• Consider storing paper copies of important documents at home in a fireproof and waterproof box or safe, in a bank safe deposit box or with a trusted friend or relative in a different physical location.
• Store electronic copies of important documents in a password-protected format on a flash drive or external hard drive in your fireproof and waterproof container. You can also use a secure cloud-based service. This may help ensure that you have access to the electronic copies even if the original documents are lost or destroyed.
• Be conscious of where you store valuable belongings. If you have valuable items stored in a basement, you may want to move them to a higher location and put them in waterproof containers to avoid water damage. You may even want to keep small items in a flood/fireproof box or safe.

Natural disasters can be devastating, but there are steps you can take to protect your critical documents and valuable items so you can access them quickly and easily following a natural disaster. By being proactive, you will ensure that you and your family can begin the recovery process quickly, safely and effectively in the aftermath of a natural disaster.

To learn more about disaster preparedness, visit irs.gov. To learn more about the comprehensive financial services offered by our experienced Busey Wealth Management team, visit busey.com/wealth-management.

This is not intended to provide legal, tax or accounting advice. Any statement contained in this communication concerning U.S. tax matters is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed on the relevant taxpayer. Clients should obtain their own independent tax advice based on their particular circumstances.

This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.

This presentation is for general information purposes only. It does not take into account the particular investment objectives, restrictions, tax and financial situation or other needs of any specific client.

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