What provides a synopsis of important events in a person's or household's history?

The term that best encapsulates a synopsis of important events in an individual's or household's history is referred to as "Events and Milestones." This is because it directly reflects key occurrences and significant moments that shape the narrative of a person's or household's journey over time. It provides a structured way of viewing important transitions, achievements, or challenges that have taken place, often in a chronological order that highlights the progression and context of those events.

In contrast, a timeline primarily emphasizes the chronological display of events but may not provide the rich context or significance that "Events and Milestones" inherently offers. While record alerts serve to notify users about certain changes or reminders within a system, they do not summarize the events themselves. Action plans focus on forward-looking strategies or initiatives rather than retrospective summaries of past events. Thus, "Events and Milestones" is the most comprehensive and contextually rich choice for depicting an individual's or household’s historical narrative.