Many couples allocate responsibility for management decisions or for record keeping and bill-payment to one spouse. This may pose problems if the responsible spouse dies without sharing important information with the surviving spouse. Spouses should keep each other advised as to the following:
• The location of valuable papers such as deeds, wills, leases, insurance policies, military service records, marriage certificate, birth certificates, and social security records. Also, a record of each person’s contribution to the purchase of property may be important. This would include records of earnings and property inherited.
• Records and inventories of the business, including any outstanding debts, notes, and mortgages.
• Records of employment and investments.
• The names of the banks where checking and saving accounts are kept.
• The names of persons usually consulted on business, legal, and personal matters.