Transcript Getting Organized “What to

Getting Organized
“Keep It or Toss It”
by: Mary Lou Odle
District Extension Agent—Salina, KS
K-State Research & Extension
785-309-5850 [email protected]
What needs your attention?
 Clutter
 Clothing
 Papers
 Records
Get Started
 Have a Plan
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Set deadlines
 Get your family involved
 Take action
Clutter
 Basket for mail
 Containers for gloves, etc
 Hooks or special spot for easily lost items
such as keys
 Each evening have a “pick up” time
Clothing
 Spring and fall—clean out and toss
 If it doesn’t fit—recycle
 How much do you need?
Papers
 Newspapers and magazines—share, recycle,
 Mail—Shred junk
 Bills—Have special location and mark date to
pay on envelope
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Mark tax deductible bill
After bills paid, file for taxes
Use These
 Catalog opt out
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www.cataloguechoice.org
 Credit Card opt out
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1-888-567-8688 or
www.optoutprescreen.com
 Free credit reports:
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www.annualcreditreport.com
 Do Not Call List
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1-888-322-8228
Organizing Important Papers
Are you prepared?
 Can you find important documents?
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Bank Acct. info., Credit Card info., Wills and
Trust, Insurance info., Farm related info.
Emergency situation information
Warranties
Important Information Notebook
 Provides quick reference to entire financial
picture
 Provides valuable information someone else
may need to manage your affairs
 Tell several people where to find notebook in
case something happens to you
Include in Information Notebook
 “Our Valuable Records” Extension bulletin MF68
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at www.oznet.ksu.edu/publications or extension office
or fillable “record of important papers” at
www.centralkansas.ksu.edu
Personal and professional directory
List of files in file cabinet and records on computer
Document locator—will or trust, etc.
User name and passwords for computer programs—
location of back up files
List of debt obligations with due dates and contacts
List of insurance policies
Information notebook-cont.
 Property inventory—personal and real
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www.knowyourstuff.org
Location of safety deposit box and where key is kept
Location of list of who is to get what personal items
Burial plot contact
Where to locate advanced directives—Living will and
Medical durable power of attorney (forms at
www.aging.ksu.edu)
Social Security and Medicare nos.
Farm Information for Notebook
 List of land owned and rented (map out of
Rural Directory-locations marked)
 List of owners & phone nos.
 List of tenants & phone nos.
 Where leases stored so family can honor
 How land is rented-cash rent or share
 Inventory of what equipment you own, % you
own, or what dad or partner own
 Who share equipment with
 Who owns small equipment and tools
Farm information-Cont.
 Financial statements for several yrs.
 Cash flow—most lenders require.
 Name and Phone numbers for following:
 Contact at FSA or NRCS
 Loan Officer
 Crop Insurance Agent
Farm information--Cont.
 Contact at elevator
 Extension agent
 Agronomist
 Repairmen and parts man
 Where septic system lines run
 Main water shut off
Records to Keep
 Ask yourself two questions:
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What could happen if I did not have this
particular information or receipt?
Will it cost dollars and time to replace this
rather than keep it?
 WHEN IN DOUBT, DON’T THROW IT OUT!
Do you have files for
 Family records
 Property records
 Financial records
 Legal records
 Farm records
 Establish a system that works for you
Where to Keep Important Papers and
Information
 Wallet
 Temporary home files
 Permanent home files
 Computer files
 Safety deposit box or home safe
 Long term storage
Keep records cont.
 Wallet—things you may need day to day
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Take photo copy of all items
 Temp. files-Bills to pay, current activity
 Permanent file suggestions:
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Credit & Debit Card nos. and contact nos.
Estate plans—trust & will
Farm Records
Insurance
Investments
Permanent files cont.
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Personal or family
Property
Organizations
Vehicles
Taxes
Any other files you find necessary
Computer Records
 Scan or download and toss some paper
 Keep up to date with recordkeeping
 Back up often
 Store backup of important information
somewhere else
Papers to keep or toss
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Land and home purchase papers-permanently till sell or die.
Proof of loan or mortgage payment-indefinitely
IRA—if non-deductible contribution, permanently
Retirement-savings plan—keep annual statements
Brokerage statements—until sell—Could be computer file
Bills for large purchases—as long as own
Pay stubs—one year till get W-2, W-2 till get Social Security
Crop insurance—one year or longer to compare for future years
Farm equipment papers—keep till sell
Repair bills—for taxes or proof of work done
Sign up for computer billing
Monthly bills—one yr.
Receipts-minor purchases-3 months then toss
What should you keep & How Long?
 Income Tax records and receipts
 At least 3 yrs. Or if did not report all income or
there might be fraud—keep indefinitely Farm
Management Assoc. suggests at least 10 yrs.
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Keep actual tax return permanently
 Credit or Debit card receipts—till get bill or
bank statement--or longer to prove purchase.
Keep bills one year
 Other receipts—as long as need as proof of
purchase or for taxes or until recorded on
budget sheets
Safety Deposit Box
 Anything you can’t replace or would be costly
or time consuming to replace:
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Birth Certificates
Marriage Certificates
Divorce papers
Military papers
Contracts
Copies of Investment information
Only people listed at bank can get into box
Replace vital records
 KDHE Office of Vital Statistics
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www.kdheks.gov/vital
785-296-1400
 Get records of events in Kansas
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Births
Deaths
Marriages
Divorce
Plus how to get information from other states
Family Records to Keep
 Insurance policies
 Health records
 Education
 Licenses to practice-certificates
 Birthdays and marriages
 Family history
 Household inventory
 Warranties and receipts
Health Insurance
 www.khiastatepool.com
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For people who have been turned down for
health insurance 1-800-362-9290
Pre existing condition plan: 1-877-505-0511
 SHICK—Senior Health Insurance Counseling
for Kansas 1-800-860-5260
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Information for people on Medicare or soon to
be on Medicare
Emergency file
 Something you can grab and easily take with
you in emergency.
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List of medications, name of doctor
Health insurance ID number
Home and farm insurance policy no.
Bank account numbers
Cash
Family & friend contact list
Other organizational tips:
 Make a bucket list—what do you want to
accomplish before you die
 Envelope for current receipts till sure product
works
 Gift some things to others (Cash--can give
$13,000 to anyone in 2011)
 Toss and recycle anything you can part with
 Shred anything with your information
 Enjoy the freedom of being able to find what
you want when you want it.
Resources:
“Our Valuable Records”
www.ksre.ksu.edu (click publications)
“Family Resource Management---Getting
Organized Series” by Alaska Extension
www.uaf.edu/ces (check publications)
To order Rural Directory: 806-365-2106
Central Publishing Co. Inc.
Other Resources
www.ksre.ksu.edu
K-State Research & Extension web pg:
www.agmanager.info
www.rightrisk.org
Click on resources at bottom of page.
Several states coalition of Research &
Extension educational programs for farm
families.