Tuesday we published 5 Steps to Creating Your Digital Estate Plan – Part 1 of Next Avenue contributor and author Catey Hill’s 5 Steps to Creating Your Digital Estate Plan. Today we discover Step 2 of Caty’s plan:
Step 2: Find a safe place to store this information. Since your digital inventories contain personal information that could lead to identity theft and financial losses if it gets into the wrong hands, “you have to be very careful” about where you put them, says Susan Slater-Jansen, a trusts and estates attorney at Kurzman Eisenberg Corbin & Lever in White Plains, N.Y.
One option is to store the lists in a safety deposit box at your bank. Or you might put them in a site like Password Box (formerly Legacy Locker) or SecureSafe, which securely encrypts and stores all of your account information and passwords in one place. You can also use one of these sites to store copies of important documents such as your wills and trusts, the deed to your house, stock certificates and birth certificates. When you die, your beneficiaries get access to everything you’ve stored.
You can also give the lists, or a copy of them, to a trusted person like your spouse, child or best friend, as well as your digital executor.
Next Tuesday: Step 3: Why you should name a digital executor
DIGITAL LEGACY: Do you have aging parents or are you concerned about keeping important information organized and easy to find? Digital Legacy is for you – a secure centralized portal that contains your family information, capturing all the critical life documents, key contacts and accounts in one place with an easy reference index. Find out more about Digital Legacy.