EST057 Where’s your ‘In Case of Emergency’ file? (538 words)

This article covers the importance of having an ‘In Case of Emergency’ file for estate planning purposes. By using a case study, we explain why you should have an ICE file, what important documents the file should contain, and why it is important that the right people know of the files existence and location.

When Mike died suddenly and unexpectedly Sally, his wife of over 30 years, was overcome not just with grief, but also with panic. Not only did she lose her best friend and soul mate, Mike had always been the family money manager. While Sally knew they were financially comfortable, in the shock of her sudden loss she had no idea how she was going to cope with her new situation.

Fortunately, Sally and Mike’s adult daughter, Melanie, was able to relieve some of that stress. “Don’t you remember, Mum? Dad often reminded us that if anything happened to him we should look for the ‘In Case of Emergency’ folder in his study.”