Updating Your Estate Plan
How often do you review your estate plan? Do you keep a current record of your online accounts with your estate planning documents?
Online Accounts
How many online accounts do you have? Do you have a personal or business website? What about a blog? Do you receive your bank or credit card statements electronically? Do you keep track of your investment accounts online? What about your photos, music, and movies?
Today, just about everyone uses the internet to access their business, personal, financial, and other accounts. With each account, you may have a user name and password. Consider the potential adverse consequences of not having a record of your user names and passwords. In the event of an emergency, no one would be able to access any of your online accounts.
Power of Attorney
One way to solve this problem is by keeping a record of all information pertaining to your online accounts with your estate planning documents. This would include a list of all business, personal, and financial account names and numbers along with your user name and password for each account.
You might even go one step further and have your attorney or estate planner include a provision in your power of attorney that gives the attorney in fact the power to manage your online accounts for you in case of an emergency.
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