Maintain your documents online!
Mr. Suresh is 52 years old and staying with his family in Navi Mumbai. He is working in an IT company in Mahape. He owns two apartments, one in Sanpada and another in Pune.He has also invested in land at Karjat. Mr Suresh has made a Will to avoid future litigation between his children. Initially he kept all his documents in bank lockers, for which he is paying locker charges of Rs 5,000/- pa. He finds it very inconvenient to visit the Bank every time to access to his documents. Further he has been told that he has to pay extra charge for each visit. Suresh was advised to safe keep his documents online. It’s also beneficial with respect to financial planning as every financial documents is easily accessible.
Like Suresh, most people are facing difficulties in safekeeping documents. Currently Technology has provided solutions. There is lot of free sites available e.g www.dropbox.com,www.iconfidential.com, www.justcloud.com, www.zipcloud.com, www.box.net and www.sugarsync.com where one can keep the softcopies of the documents and view this whenever one desires.
Tips for safe keeping documents
a. Buy a small home locker for keeping hard copies of documents
b. Take their scanned copies
c. Log into any above mentioned sites say https://www.dropbox.com
d. Click on “Create an account”
e. You may select free account
f. Input your Email ID, create your password and confirm password
g. Finally click “Confirm” and account is created
h. Now, one can upload soft copies of documents and passwords:
· Financial; Savings A/c, Banks FDs, Equity Shares & Mutual funds details etc.
· Property documents; Will, Title deeds, Property tax receipts etc
· Life insurance policies, Health insurance policies, Loan agreements etc
· Physicians prescriptions and medical history
· Pass port and Visas
· Photos and albums
· Music
· Passwords of Credit / Debit Cards
· Website Logins
· Computer Logins
Finally, do not forget to share the User ID and password of the site with the spouse or any close family member. Suresh is now maintaining all his documents online as per advice of his certified Financial Planner who is also a SEBI registered investment adviser and has shared the pass word with his wife. He feels very comfortable and relaxed now. Everyone should follow the same.