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Cindy Butts, RCE, CAE, CEO of Connecticut REALTORS®, once blogged an answer to this scenario, based on the “disaster file” created by friend and colleague Jerry Panz, who retired from Cape Fear REALTORS® in 2017. “Jerry provided great advice that continues to survive the test of time,” she says. Start by creating a document that outlines actions your leadership should take and the location of key information. Here’s what Panz recommended:
- Don't panic.
- Call an emergency board meeting to appoint a staff person as acting CEO, with additional pay.
- Signature cards are changed annually with the election. You may want to add the acting CEO as a signatory, but notify the bank of any last checks that I signed.
- Notify the CPA and legal counsel. You may need their help.
- Passwords are saved here: _______.
- Notify the state and national associations of my death and who is now the acting CEO.
- Decide on a search committee now. It may take months to hire a new CEO, and the current staff person already has a full-time job!
- Change the signature card on the safety deposit box to determine who else may access it, if anyone.
- Important keys—to the building, to offices, to petty cash, to locked filing cabinets and more—are located here: ______________.
- The checklist for doing the month-end accounting for each entity can be found at (filename). See if I have started the monthly accounting. The CPA can find an employee/temp to help with this as necessary.
- Change the membership system database to reflect the current CEO. Have someone check the national membership system for the change the day after the transmission.
- There is an insurance policy on me paid by the corporation. (Name) is the beneficiary for both. Please remind (Name) to contact the insurance provider and my personal attorney about the car, life and house insurance.
Need to prepare for more “what ifs”? The Association Disaster Preparedness Plan Checklist walks you through how to plan for other disasters.
