You may have a will or even power of attorney. Yet do you have an “In Case of Emergency” document? The former can be invaluable in the event of your death or mental incapacitation. However, an in case of emergency (ICE) document specifies where your key information is found in an emergency. This could be useful in certain scenarios such as when you travel, providing your loved ones (back home) with key information about insurance, contacts and digital accounts if you get lost and need to be tracked down. However, an ICE document can also be vital for events at home – such as during an accident. Below, our Teesside financial planners explain how an ICE document works and some key details to consider including.
What is an “In Case of Emergency” document?
An “in case of emergency” document (ICE) is a single file – which could be stored physically or digitally – which is distributed to loved ones if you die, get in an accident or become a missing person. It offers a way to help prepare for the unexpected, providing peace of mind to family members The file brings together key information, such as contact details and financial information, which assists your family in putting your affairs in order.
Given the sensitive nature of the information contained in an ICE, it must be stored in a safe place. You might keep your own physical copy in a safe at home, for instance. Anyone you share it with (e.g. a parent, spouse or sibling) should also keep it in a secure location. Take care not to forget where it is stored. If the need arises, it may need retrieving quickly. You might even wish for your financial planner to keep hold of it (e.g. in secure digital company storage). When sharing your ICE document, take care to ensure secure messaging – e.g. using an encrypted internet connection (using a virtual private network, or VPN) and a reliable messaging/email app.
What should I include in an ICE document?
An in case of emergency document should contain your full name, what you are known as (e.g. nicknames), your date and place of birth, National Insurance (NI) number and passport number. These details should also be available for your spouse, partner or next of kin. If you have a will and power of attorney, then consider including the information about these key documents such as their location (and who knows where they are kept), the name and address of the solicitor (and contact details), the person – or people – named as attorney(s) and contact information. If you have a funeral plan, mention where this is kept and who should be told about arrangements (as well as their contact details).
It is also wise to mention where your birth certificate and marriage certificate can be found. At this point, you can start detailing financial and other key information such as your workplace pension, private pension and State Pension. Here, you can include the providers, the account numbers and contact details. Consider also including these details for any National Savings & Investments (NS&I), investment plans or platforms, building society savings, life insurance, home insurance, current accounts, business accounts, car insurance and other insurance (e.g. mobile phone). Think about also including the names, addresses and phone numbers of your doctor, business partner(s), dentist, accountant and financial adviser.
We live in a digital world in 2023, so it is also worth noting the username, associated email and key notes for social media and online accounts such as LinkedIn, Facebook and Twitter. Your next of kin may wish to access these in the event of death, accident or emergency to notify the platform or followers/contacts. For instance, Facebook allows you to appoint a “legacy contact” if you die, who can either memorialise your profile or permanently delete it.
Those with children or other dependents should also specify what should happen to them if there is an emergency. For instance, who will look after your young child, in the short term, in the event of your death, a serious accident (e.g. resulting in a coma) or if you go missing? The same question can be asked for any pets you may have. Your will, of course, should specify your wishes regarding how you want your estate to be distributed to loved ones – including any children – if you die.
Once your ICE document is ready, consider putting a note in your calendar (e.g. by setting a digital “reminder”) which prompts you to review the information periodically. Revisiting it every year or two should be sufficient to check that everything is kept up to date. Certainly, if you experience a significant life event – e.g. marriage, having a child or changing an insurance provider – then you should update it straight away.
Invitation
If you would like to discuss your financial plan and retirement strategy, then we would love to hear from you. Get in touch with your Financial Planner here at Vesta Wealth in Cumbria, Teesside and across the North of England.
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This content is for information purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice regarding your affairs please consult your Financial Planner here at Vesta Wealth in Cumbria, Teesside and across the North of England.