Are You Prepared for a Natural Disaster?

Are You Prepared for a Natural Disaster?

June 10, 2021
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Natural disasters such as hurricanes, earthquakes, or fires can happen at any time which is why it's important to be prepared before disaster strikes. Here are a few tips to help you prepare in case anything happens:

  • Update your family's emergency plans: Updating your emergency plans can include knowing where to go, where all important documents and possessions are located, and what you need to be prepared for. Check up on the emergency plans for your home or business frequently because things can change.

  • Create digital copies of important documents: Most financial organizations like banks and insurance companies provide digital copies of bank statements, tax returns, and insurance policies anyway, and having all these digital copies saved and organized is a good practice to get into. If you only have paper copies of important documents, scan them and save them to your computer in case you can't access them in an emergency.

  • Document valuables: It's a good idea to document valuables to make it easier to claim insurance and tax benefits after a natural disaster. A disaster loss workbook will help you compile a list of belongings and photographs that can make this process even easier for both the IRS and your insurance provider.

The best time to prepare for an emergency is always when you don't need to, not after the fact. These tips will help you have everything you need ready in the case of a natural disaster or other emergencies.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tips adapted from IRS.gov September 23, 2020

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

Photo by Kelly Sikkema on Unsplash