Get your financial affairs in order: how to create a lifebook

What should a lifebook look like?

Your lifebook could be a folder on your computer where you've saved all relevant documents, and perhaps even a spreadsheet summarising your information. Or if you prefer, print out all the relevant documents and put everything together in a physical file. Whether it’s a physical or digital folder, make sure your family knows where and how to access your lifebook if something happens to you.

Your folder should include:

• Your updated Last Will and Testament, or the details of where it is stored
• Birth certificates and important medical details
• Medical aid information
• Banking information
• Tax details and records
• Property ownership details and documents
• Details of all your provident, pension and retirement annuity policies
• Investment accounts
• Short-term insurance policies (vehicle and household insurance, etc.)
• Long-term insurance policies (life insurance, funeral cover, critical illness, income protection cover, etc.)

Spreadsheet it

Create a spreadsheet with all your investments, bank accounts and risk cover information summarised. Include the details of the product/service providers and account numbers, and where to find important documents or additional information not stored in the lifebook folder. This gives you a single piece of paper that records all your financial information.

Remember to update your information when things change, or work an annual update into your calendar.