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Life File
What is a Life File?
This is a file where someone can find important documents and information if you were to die. It is meant to help your next of kin in the event of your death. It is a good idea to keep important documents in a file and not just on your computer. Make sure that it is kept in a safe place.
When preparing your life file, think practically about the household/garden/business, and leave necessary instructions in the file. For example: Write instructions and/or letters to your spouse and/or employees; leave more details of any wishes you have in your testament (such as your burial preference or what you want to have happen to your pets).
The goal is to see that your wife/husband/heir knows what is going on with the finances. Every now and then put a new bank statement in your ‘life file’, with notes about expenses.
- Copies of your ID and passport
- If you are an organ donor, include details of this
- Original Last Will and Testament
- Original Living testament (separate document)
- Original marriage certificate or divorce (order?) and accompanying documents
- Your parents: If deceased, keep details of their estate – full names, birth and death dates and details of office where estate is, estate number, copies of IDs and death certificates
- If you have a safe, your passwords (or pin/ & passwords) NB: Remember to indicate where the key and spare key are. (Someone should know where this is as well as know that there is a life file and where it is kept.)
- Title deeds of property and attached businesses, including house plans
- Investment documentation and/or share certificates
- Registration certificates for vehicles – cars, motorbike, caravan, etc
- Motor financing papers and/or vehicle registration with details of yearly license fees
- Municipal valuations and accounts
- A list of your monthly bank accounts
- Policies – life cover, and short-term policies, e.g. Funeral policies
- Salary details, employer’s contact details, pension scheme details
- Income tax number and tax practitioner’s contact details
- If part of a business, details of the auditor, bookkeeper and tax practitioner
- List all your monthly expenses with contact details
- Make notes regarding any special arrangements for each expense
- Details of credit cards, shop accounts and personal loans
- Telephone accounts, details of cell phone/tablet contracts and personal identification numbers
- Yearly expenses such as post box renewals and TV licence
In the event of death
- Medical practitioner/family doctor and/or ambulance service
- If relevant, organise organ donation immediately
- Police – NB: Compulsory in cases of unnatural death
- Funeral undertakers – they usually organise the death certificate
- Relevant minister or pastor
- Contact the executer (named in the testament) who must register the estate as soon as possible at the closest Master of High Court
- If a spouse or family friend is nominated as executer, that person must contact a person with expertise such as a lawyer or financial planner for advice and assistance. They are able to handle the estate on his/her behalf.
- Contact the deceased’s broker for claims on policies
- Contact the deceased’s employer and work colleges, or if they had a business, the employees and co-owners.
It is important to remember that the bank accounts of the deceased will be frozen as soon as the bank is informed of the account holder’s death.
Money is needed for:
- Funeral expenses
- Consultation fees for professional advice, especially where the spouse is nominated as executer
- Most important, money for monthly expenses and to pay debit orders until the life policy pays out or assets are sold and/or the estate has been put in order.
The Life File was prepared by late Gerhard Oosthuizen. A useful tool that every family should have.
