No one wants to think about what happens when we die. But, we have to. It's better to be prepared now than make your family try to guess what you would have wanted after you are gone.
That's exactly why you need a legacy binder!
A Legacy Binder is exactly what it sounds like–a binder (or folder, or bin–you get it) full of your personal information that you leave your family (likely your children, hence the word legacy) so they have instructions on what to do with your belongings after you've passed.
Today, I'm going to be talking a little bit more about legacy binders, especially a specific, easily downloadable binder called the ICE Binder.
First, let's tackle the big question: what is a legacy binder?
What is a Legacy Binder?
When you first hear the phrase “legacy binder” you may have no idea what that’s referring to. It may sound like a weird family tree, but, in fact, it’s simply a location where you keep all necessary information about your life that your family will need upon your death.
Not the most cheerful topic, but a legacy binder is important to have for a variety of reasons.
What should be in your Legacy Binder?
When we say your legacy binder needs all your “necessary information”, you’re probably wondering what exactly we mean. Well’ let’s break down the recommended documents you’ll want to include.
- Last will and testament–While a physical copy may not be in your binder, have instructions as to where it can be found.
- Insurance policies–Include life insurance policies, and the location of all your other insurance policies if you don’t keep them in the binder.
- Bank and credit card information–You don’t have to keep the numbers in here, but include where they can be found.
- Investment account information–You should provide a list of any active accounts, as well as contact information and account numbers.
- Benefits information–This will include information related to your employer, any benefits they offer, and their contact information.
- Income tax returns–Try to get physical copies if you can, but you can also keep a flash drive with any online returns.
- Any information regarding your home—This includes deeds, mortgage documents, and account numbers for companies providing electricity, gas, cable, water and sewer, and trash.
- Usernames and passwords.
- List of personal affects and instructions–The instructions will include where or to whom you want your possessions to go.
A new take on the Legacy Binder: The ICE Binder
Chelsea, from Mama Fi$h Saves, has created an “In Case of Emergency (ICE) Binder”, which is a legacy binder all laid out for you, all you need to do is fill everything out. It includes: worksheets, instructions, and PDF pages you can type right into.
To give you a better sense of everything the ICE Binder has to offer, let’s dig into the details.
The ICE Binder includes:
- Over 90 pages of simple, printable worksheets that help you organize everything your family may need to know.
- 15 sub-sections that are easy to navigate.
- A mix of pages that include official, need-to-know information and more sentimental questions about your family and friends.
Here's a sneak peek of some of the pages in the ICE Binder to give you a better sense of what's in it, and how it can help you.
The ICE Binder includes family, personal, and nearly every financial topic you can think of.
As you can see, it may take a while to fill out all these pages, but imagine starting from scratch. The ICE Binder offers easy-to-read pages that can keep all of your information organized.
You can get a copy of the ICE Binder for $29.
While that’s more expensive than creating your own binder, it will also save you a huge amount of time! Time you could be working on a side hustle, enjoying time with your family, or doing one of your hobbies. Plus, you will have the peace of mind that you've thought of everything.
The ICE Binder obviously includes important financial information, but it leaves room for your personal thoughts as well.
Chelsea has included pages about emotional topics that you really need to consider. You can't turn back the clock and tell people things that you always wanted to. Take action today to make sure you have no regrets.
That's what the ICE Binder is all about–making sure your loved ones have access to, not just your belongings, but to important memories they shared with you as well.
Who it’s for
Everyone should have a legacy binder. But those with significant financial assets and a family are those who really need one.
Should you use ICE Binder?
Why wouldn’t you? If you want a way for your family to be able to organize all your assets without a hassle in case the worst happens, the ICE Binder is perfect. It gives you peace of mind and is inexpensive compared to the hours it could take you to create your own.