On Passwords and Planning


When it comes to estate planning, most of us have thought ahead and prepared a will or living trust, have organized powers of attorney and executors, and compiled lists of accounts, banks, and more.  In short, all the details a person would need to carry out our last wishes.  But there’s one vital piece of information that many of us have overlooked: our online passwords.

Think about all the passwords and account information that are such a big part of our everyday lives online? Especially those accounts we never receive paper copies anymore. What happens to all of that information? How will it be accessed? Do you have a list of passwords and sites that can be accessed by someone if necessary? Will anyone know where to look for your list?  If the answer is no, read on for solutions, ranging from simple to detailed.

One easy solution is to write down a list of all your passwords and accounts and provide it to your attorney, executor, or trusted friend in a sealed envelope.  Another option is to put this information in a safe deposit box, along with instructions on how to access it.  Both of these options require you to update these lists every time a password is changed.  We recommend getting a small book (much like the address books of the past) to keep track of your passwords.  Keep it close to your computer and update it when you change passwords;  and don’t forget to leave a note for the executor of your will telling them that you have a password book and where to find it.  Here’s a link to a small password book we like.  

There are online options as well, including sites that will store your information for you. But is such sensitive information safe online?  Check out this smart article that discusses the ins and outs of passwords and planning.  We highly suggest you take a look, make a plan and most importantly, write it down.  

Questions?  As always, please write or call us.


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