We have many Dave Ramsey
fans in my family. As you probably
know, Dave is the popular author
of the best selling book, The Total
Money Makeover. He is also the
host of his syndicated radio and
television show, The Dave Ramsey
Show, and the founder of Financial Peace University.
In his book and talk show, Dave urges Americans to create a “love drawer” or “legacy drawer.” It's a place where you keep important documents which are part of what Dave calls “the real gift of love... giving your family peace of mind in case something happens to you.”
So, what’s in it? These eleven
1. A cover letter explaining the
purpose of your drawer.
2. Your will and estate plan.
3. Your financial account list
of account names, amount and
4. Your funeral Instructions.
5. Your insurance policies,
with information summarized on
6. Important documents such
as deeds, birth certificates, social
security cards and titles.
7. “Legacy Letters” to your
loved ones to be read after you
8. Your monthly budget so your
spouse or loved ones know how to
manage your bills when you are
9. Your tax returns.
10. Safe deposit box information
telling where your box is an what
is in it.
11. Passwords – all passwords,
combinations, usernames and
We think Dave’s love drawer is
You can assemble the documents yourself, but be careful about using a do-it-yourself or fill-in the blanks will. I recently saw a will a woman downloaded from the internet. It was well written, but completely invalid under Utah law. She would be shocked.
Having a good will is important.
Dave says, “Of course, the first
element of the big estate plan is
the will. There may be trusts, some
other things built into that. That's
not for everybody. It is something
you kind of need to think through.”
Start your love drawer today.
(You can read the above quotes
and others from Dave Ramsey at
Jack Helgesen is an attorney in the law
firm of Helgesen, Houtz & Jones with offices
in Ogden and Layton, Utah. He is a member of
the National Association of Elder Law Attorneys
(NAELA) and has thirty-five years experience in
courtroom litigation. He offers house calls and
free case evaluations. Contact him at (801) 544-
5306 or go to utahelderlaw.com.
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