Getting organized is a big piece of your estate planning puzzle. This enables your family to locate the documents they’ll need if you should pass away or become incapacitated.
Unfortunately, many people don’t think about this kind of organization until it’s too late and family members are left scrambling to find life insurance policies, health care information and of course, the Will.
But in addition to gathering and storing all your important documents, there is another aspect of your life that requires equal attention – your life online.
These days, it’s not unusual to have financial accounts that function solely online. Many creditors and financial institutions offer the option of paperless billing and online account management.
As a result, there may be no physical evidence that you have a credit card or checking account with a particular institution. And without something to point your family members in the right direction, that account may never be found.
To remedy this, you need to create a list of all your online accounts – savings and checking, credit cards, memberships – whatever it might be, add it to the list. Include your login information as well as any payments or premiums that might be due.
Also include access to your email accounts, websites and other online activities so that your family can close these if needed.
If you created security questions as part of the account set-up, you’ll need to note that as well and then include this list with your other important documents.
Be sure to let your family members know where you’ve stored these documents so that they can find them easily if the need should arise.