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Remember To Pass On Your Passwords!

Reasons to choose Wilson Browne

In this digital age, most of us know that if we want to access our accounts…

…whether that’s for Facebook, Amazon, internet banking, etc. we have to put in our passwords or the extremely techie just require their face ID, but how many other people in your family know what these passwords are – other than you?

What would happen to these accounts if nobody else knows how to access these after you have passed away? Unfortunately during many of my client meetings this has caused problems as part of the administration of the estate, coming at a time when families may already be struggling with the aftermath of losing a family member.

To ensure that your money that may well be sitting in some of these accounts is not forgotten then one solution might be a “digital asset vault”. This is essentially a digital cupboard where you can store all of your passwords, important documents and any other pieces of information that may be of a personal or sensitive nature; these can all be held together in one place. You will then share this password for your vault with trusted people either during your lifetime or at a time you feel it is appropriate ether verbally or within a written letter so that they would then have full access to your vault and the information it contained.

There are various products available to help you do this but it is important that you make sure that you check the security capabilities before creating your own vault.

Debbie Hope

Posted:

Debbie Hope

Private Client Practitioner

Debbie is a member of the Private Client Team (with over thirty years of experience) and advises on matters relating to Wills, Administration of Estates and Powers of Attorney. Also being a member of the firm’s Trust Team she specialises in the administration and creation…