The Death Binder: A Gift of Clarity in a Time of Crisis

We hope you had a great holiday season. We definitely did. Between the end of the year tax planning chaos and the strange time warp between Christmas and New Year’s, it’s actually nice to be back in a routine.

We’re kicking off the newsletter again for 2026 and we’ve got some new things in the works that we’re looking forward to sharing. Stay tuned. It’s going to be a good year.

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The Death Binder: A Gift of Clarity in a Time of Crisis

Early in my career, we had a plastic surgeon client I became very close with. Every month, I would go to his office in Fort Worth to process payroll, reconcile bank accounts, answer questions, and handle whatever else came up. That’s simply how we worked back then. We did this, month after month, for nearly four years. To this day , I still remember after the birth of my first son , Jacob, he looked at me with true joy in his eyes and told me my life will never be the same. Jacob is now 17 and he was right !

Then one day, out of nowhere, the client sat me down and said, “Vince, I’ve been diagnosed with stage four cancer. I have a couple of months to live. I haven’t told my wife anything about this practice, our financial situation, or how any of this works. She raised the kids, and I’ve handled this side of our life. I need you to help her when I’m gone, because she doesn’t know anything.”

It was a statement filled with shock and desperation. He was only in his late 40s, the same age I am now. What made it even more frightening was the realization that everything lived in his head. The details of the practice, the bank accounts, the advisors, the financial decisions. All of it existed between him, his CPA, his financial advisors, and nowhere else. If something happened to him, the person he loved most would be left completely in the dark.

That moment has stayed with me throughout my career.

To start the new year, we want to focus on something every family should have and update regularly. It’s not fun, it’s not flashy, but it is one of the most important documents you’ll ever create: the Death Binder.

At its core, the Death Binder is a document, physical or digital, that outlines the key financial and logistical aspects of your life. Its purpose is to help your loved ones navigate the unimaginable: your unexpected passing. At P&C, we've unfortunately witnessed the emotional and financial strain families endure when this planning hasn’t been done. Spouses who don’t know what accounts exist, what businesses are owned, or even how to pay the next mortgage bill.

The Death Binder helps prevent that. It puts critical information in one place, so your family can take care of what matters most without unnecessary confusion or stress.

The Three Basics of the Binder:

1. Here is where everything we have is

2. Important contacts

3. Here is what to do

Let’s walk through what should be included.

1. Personal Details

Basic identifying information such as:
• Full name, date of birth
• Social Security number
• Driver’s license and passport numbers
• Marriage certificate(s)
• Employer information

2. Professional Advisors

Include contact details for:
• Accountant or CPA
• Attorney
• Financial advisor
• Insurance advisor

3. Legal Documents

Copies of or instructions on where to find:
• Estate planning documents (wills, trusts, agreements)
• Personal financial statement (a full outline of assets and liabilities)
• Tax returns
• Citizenship documents
• Passports
• Marriage certificate
• Property deeds
• Car or boat titles
• Burial or funeral instructions

4. Insurance Information

For each policy, include the policy number, insured party, issuer, agent contact, and location of the physical policy:
• Life
• Health
• Disability
• Homeowner or renter
• Auto
• Umbrella
• Vision or dental

5. Assets

List what you own, where it’s held, and how to access it:
• Bank accounts (checking, savings, CDs, money markets)
• Retirement accounts (401(k), IRAs)
• Brokerage and investment accounts (including crypto)
• Pensions and annuities
• Real estate holdings

Include account numbers and login instructions where applicable.

6. Liabilities

List what you owe and to whom:
• Credit cards
• Mortgages
• Auto loans
• Student loans
• Personal or family loans
• Other debt

Include lender names, account numbers, and online access info.

7. Bills

Provide a list of regular bills, how they’re paid, and whether they’re on autopay:
• Mortgage or rent
• Utilities
• Insurance premiums
• Credit card payments
• Any recurring household or lifestyle expenses

8. Passwords

Access is critical. At minimum, include:
• Computer login
• Phone PIN
• Key financial logins
• Social media accounts

Storing this securely is essential , consider a password manager with emergency access or a sealed document. We love Keeper - https://www.keepersecurity.com/

9. Business Information

If you own a business, this deserves a dedicated section. It's similar in structure to the personal section but with its own nuances. Work with your accountant to outline:
• Entity structure
• Ownership details
• Key contacts
• Business bank accounts
• Insurance
• Loans
• Operating procedures
• Succession plans

10. Steps After Death

A checklist of what needs to be done immediately:
• Notify family and friends
• Coordinate with a funeral home
• Obtain 10 to 15 death certificates
• Contact your attorney, accountant, and financial advisors
• Notify employer and or business partners
• Contact the Social Security Administration
• Notify life insurance companies

Final Thoughts

Yes, this can be a lot of work , but it’s work done out of love and responsibility. The greatest gift you can give your family during one of the worst moments of their lives is clarity.

And here’s the good news: much of this information already exists. You just need to organize it. If you’d like help creating a Death Binder for yourself or your business, we’re here to assist. We can provide a free guide or we can help build for you . Just hit reply to this newsletter and tell us you would like help, we can share our free guide to help you build this or we can even take care of preparing this for you.