Nice writeup by Andrew Orr for The Mac Observer. This is one of those posts that worth scanning now, while you are feet up with a cup of coffee, rather than in a state of panicked response to your phone gone missing.
One note: Ignore the link to “How to Set Your iOS Device Data to Auto-Destruct” on that page. As pointed out in the comments, it’s outdated and no longer accurate.
UPDATE: Outdated link was deleted from the Mac Observer article.