"All change creates fear. And the best way to combat it is to improve knowledge." – Ihno Schneevoigt
Changes in life, whether private or professional, are natural. They are simply part of life's flow.
We routinely keep all sorts of daily processes under control. We know which information is important and in which folder it can be found. We know the right contact person for every private and business matter.
Why should you set up an emergency folder?
Sometimes life circumstances change from one day to the next. Ideally, a basic safeguard should be in place before any serious change occurs. This would allow the "everyday matters" in both the private and business spheres to continue with virtually no disruption.
Bank accounts, passwords, pension insurance, will, advance directives, safe deposit boxes, your medical records, contact details of your doctors, supplementary insurance, and so on – all this information is known to you.
Other important documents are filed in labelled folders.
But what happens if you are unexpectedly and unintentionally unavailable?
Who will then know your filing system?
Who can locate, on short notice, the access code to your online banking or even the keys to the company car? Who can make transfers from the business account or process payouts? Is there a banking power of attorney in place? Who is authorised to sign contracts?
Who is in a position to make swift decisions in private or business matters?
What belongs in an emergency folder?
There is naturally no universally applicable answer to this question.
The approach depends on the individual circumstances – that is, whether the person is a private individual, a sole proprietor, a tradesperson, or a GmbH managing director.
The greater the responsibility – particularly with regard to corporate management – the more details must be considered to ensure the safe and solvent continuation of the business in all areas.
A possible structure for the folder
- Personal data
- Begin by noting the most important contact details:
- Family
- Doctor
- Rechtsanwalt (German Attorney-at-Law)
- Steuerberater (German Certified Tax Advisor) …
- Contacts in case of emergency
- Your wishes and preferences
- Copy of your ID
- Powers of attorney granted
- Assets
- Overview of all bank accounts
- Current accounts, call money accounts, savings accounts, securities deposits
- Access to safe deposit boxes
- Real estate holdings
- Copies of land register entries
- Tenants
- Loans
- Benefits in case of illness or death
- Copies of statutory pension records as well as private accident and life insurance, pension and any supplementary insurance policies
- Please note: Act without delay when filing damage reports to avoid missing important deadlines
- Dispositions and powers of attorney
- Will
- Living will (Patientenverfügung)
- Advance care directive,
- Custodianship directive, and
- Banking powers of attorney
- The form and clarity of the powers of attorney are crucial to ensure that banks and insurers accept them directly without objection. Please have the documents reviewed in advance by the bank and/or insurer
- Medical history
- Details on family doctor / specialists
- Illnesses / operations / medical aids / implants
- Long-term medication / medication plan
- Important intolerances / allergies
- Organ donor card
- Your own business
For entrepreneurs and freelancers, it is important to compile names, internal information, and documents, and to clarify the following questions:
- Which employees are to make decisions in your absence?
- Who is familiar with the emergency management plan?
- Who holds which powers of attorney? Of what kind?
- Are all important passwords or keys accessible?
- Who is responsible for ongoing projects, and who shares responsibility alongside the team leader?
- Can firmly scheduled appointments be identified and kept?
- Is there an organisational chart of your company?
- Who knows the access codes (PIN/TAN/etc.)?
Where should you keep the emergency folder?
Choose a suitable place of storage where the folder is not accessible to everyone, but can be found quickly in an emergency. A person of trust should know where it is kept, to whom it should be handed over, and in which situations it may be used. In many cases, Rechtsanwälte or Steuerberater are involved.
What support can you expect from your Steuerberater?
On the one hand, we help you set up your own emergency folder.
On the other hand, we are available for all considerations relating to this topic and their implementation.
Your team at Steffen & Partner, Mr Dipl.-Kfm. Ingolf Ersel, Steuerberater
Frequently asked questions
Frequently asked questions
What is the purpose of an emergency folder?
An emergency folder ensures that important private and business processes can continue in the event of unforeseen incapacity (illness, accident, death). It consolidates all relevant information—such as account details, passwords, powers of attorney and contact persons—in one place. This enables family members or authorized representatives to act quickly when needed.
What should an emergency folder contain?
Typical components include personal data and contacts, an overview of assets including bank accounts and real estate, insurance documents, directives and powers of attorney (will, advance healthcare directive, precautionary and banking powers of attorney), medical history, and business-related information. The exact scope depends on individual circumstances, for example whether you are a private individual or a business owner.
What should entrepreneurs additionally arrange in the emergency folder?
Entrepreneurs and self-employed professionals should specify which employees are authorized to make decisions in their absence, who holds which powers of attorney, and who is responsible for ongoing projects. Equally important are an organizational chart, accessibility of passwords, PINs and keys, as well as documented emergency management. This ensures the company remains operational even if the leader is unavailable.
What should be considered for powers of attorney in the emergency folder?
Powers of attorney must be formally correct and clearly worded so that banks and insurers accept them without objection. We recommend having the documents reviewed in advance by the respective bank or insurance company. This applies in particular to healthcare proxies, care directives, and banking powers of attorney.
Where should the emergency folder be kept?
The folder should be stored in a secure location that is not publicly accessible but can be quickly retrieved in an emergency. At least one trusted person should know where it is kept and understand when and to whom it may be handed over. Often, a Rechtsanwalt (German Attorney-at-Law) or Steuerberater (German Certified Tax Advisor) is also involved.