Vogel Law Firm, Ltd.: estate planning law firm serving families throughout the State of Wisconsin

Friday, November 13, 2009

Password Please

Not long ago, in a world that now seems to have existed only in our memories, the safe-deposit box key was the only item clients had to make sure someone knew of to access secret or private information. Now, with assets and information locked away in various email accounts, social networking sites, and online bank accounts, clients must make plans for passing along passwords as part of their estate plans.

Whether your clients download from iTunes or tweet away on Twitter, someone must know the passwords to access accounts after your clients have passed away. Incorporating passwords into an estate plan should not be optional. As this post highlights, some online accounts may offer alternatives to access the account. However, there is no reason to force your client's loved ones to go through unnecessary hoops. Plan properly, plan thoroughly, and leave a legacy, not a mess.