Another Version of Spring Cleaning

By Nathan C. Weaver, CPA, Manager

Spring – a time of new growth and lots of rain for many areas.  It’s also a time for “spring cleaning.”

My wife loves to clean things out – closets, the basement, cupboards.  There’s no reason to keep anything you are not using and will not use.  While I am not a hoarder, I feel it is quite easy to accumulate rather than throw away.  Although, a good “clean out” certainly makes me feel better as well. 

Why do I bring up spring cleaning?  Well, for almost everyone, documents (paper/electronic) that are financial in nature are stored somewhere, or maybe many places, and may be piling up.  Those places may hold tax returns, beneficiary information, bank account numbers, etc. 

When was the last time you took inventory of all your nontangible “stuff”?  How difficult would it be to locate your will, life insurance policy, and current debt obligations?  Maybe a cleaning-loving spouse deleted everything or sent the information through the shredder. 

Regardless, as we clean out our physical closets, know that our financial closets should also be put in order.  Don’t be afraid to set a time and date and get to work!

Filed in: Client News