Pets and Passwords: Estate tips

shsgrandrapids 12 Jul 2022

You have worked diligently to make sure you have covered all your bases and finally have that Will together. You have even shared it with your children or designated Power of Attorney. However, before you file it away,  make sure your estate plan include some things that are frequently omitted or overlooked – pets and passwords.

It’s critical to account for your pets, online accounts, passwords and even social media accounts.

Pets need a place in your will

Pets. Many consider their pets to be a family member. They are willing to pay hundreds and even thousands for their upkeep and care. They pay for pet day care, pricey medications and surgeries and even pet health insurance.

Yet, they neglect to provide for their pets in their wills. Who will care for your pet if you pass away?  Don’t assume that a friend or relative will step up. Talk to friends and relatives and have a plan for who will take your prized pet.

What about Passwords? 

Passwords. Today it’s not uncommon for a person to have 25 or 30 passwords for various accounts websites. There are the passwords for your bank and retirement accounts, utilities, credit card accounts, streaming services like Hulu and Netflix…The list goes on.

Some people keep them on their phones (which requires another password) and some people keep them in little books. Others keep them on little yellow sticky notes scattered about their desk or their home.

“You want to make sure that your will spells out specific powers with respect to any online accounts, be it social media, banking accounts, etc.,” says Carcone. “Keeping a list of passwords is very helpful so that your loved one can have access.”

See the original article in Senior Planet.

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