Attorney & Mediator
Attorney & Mediator

Estate Planning in a Technological Age

Most people when doing estate planning think about the distribution of their assets: money, home, personal property.  In this modern, technological age, there are new issues to consider.

Your agents under your Power of Attorney, your Trustee under your Revocable Trust and your Personal Representative under your Last Will and Testament will have their hands tied if they cannot access your assets because they do not have your passwords.

There are user name, passwords, questions for each account.  There may be a password to open your computer programs.  Without this information, your information is locked up.

Take the time to list every on-line account: bank accounts, credit card accounts, utility accounts.  List the user name and password for each one. 

Also take the time to note whether payments to each credit card, mortgage and utility account are automatic to your checking account, automatic to a credit card or whether it must be accessed and paid.  This is very important information because many do not send out paper invoices for the monthly charges. 

Your agent under your Power of Attorney could miss important payments, or fail to deposit funds into appropriate accounts to cover the automatic payments.

This information should, of course, be kept in a secure location.  Your agents, successor trustees and personal representative should know where his information is located.

This will assure a seamless transition by your agent if you are incapacitated or your heirs if you pass away.