How Do I Include Passwords in My Estate Plan?

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Passwords are important in estate planning.

So many things are now digital.

These include email, social media, and online banking to name a few.

With the rise of digital assets, protecting these assets is important.

Passwords can provide such protection.

According to a recent my San Antoni article titled “Safe sharing of passwords and legal documents,” keeping these accounts secure from those with nefarious intentions is important now but so is ensuring accessibility should you become incapacitated and when you die.

Passwords are should be protected and accessible.
Passwords and digital documents need to be addressed in estate planning.

You may have a handful of go-to passwords, a single one for all accounts, or a different one for every account.

Often these passwords are simply remembered by your browser.

This is not the safest option as it leaves your security information and accounts vulnerable to hackers.

Yikes!

It may also keep you from remembering the login credentials to the specific accounts.

How can you keep and organize your online accounts and passwords in a more secure manner?

An ideal option is a stand-alone password manager.

What does this do?

It gives you the option to share login credentials with others, such as an executor or legal agent.

In addition to passwords, many people want to secure legal documents digitally.

There are certain companies that allow these documents to be shared and secured privately at reasonable prices.

Although document vault websites are available, you will want to do your research to ensure the one you select does not resell data.

You will also want to make sure that what these companies offer complies with the laws of your state.

Working with an experienced estate planning attorney can help you understand your options to secure your accounts and documents while ensuring access by your attorney in fact or executor if necessary.

Reference: my San Antonio (October 14, 2019) “Safe sharing of passwords and legal documents”