Digital Assets, Passwords and the Last Limo Ride

Retirement, Income, Tax & Estate Planning.

Digital Assets, Passwords and the Last Limo Ride

June 24, 2015 Estate Planning 0

How the world has changed.  In the old days, like 20 years ago, you had a will, maybe a trust and perhaps a safe deposit box.  A few even had safes in their homes.  It was easy to make certain that, if you became incapacitated or died, someone close to you could easily handle your affairs.  Not so, anymore.

Along with the Internet (thanks to Al Gore) came a million logins and passwords.  Ugh!!!  And even before you can get to all your accounts, you need to remember the login to your phone, tablet or computer.  So much fun.  And once you finally learn a password, the account makes you change and update it.  Try logging in a few times with the wrong password (because you can’t remember them all) and then you get locked out.  Again… so much fun.

I just turned on my “way-back machine” again and realized I didn’t need a password for my old IBM Selectric or my adding machine.  Oh well.

Sorry for carrying on as I almost forgot the reason I started writing this column.  Seriously, keeping track of all the logins and passwords/PINs is a major challenge for most anyone these days.  Attached (click here) is a five-page form you might want to print out and fill in with all your critical password information.  Keep it in a secure place where it can be found should you become incapacitated or pass on.

Heck… you may die but your Facebook account can live on for many years.  Excited?

Have a great weekend…

Peter