In our experience with wills and estates, we know that most people don’t consider this question but should. When we assist an executor or personal representative, we frequently find that no one knows the computer and other passwords that would allow access to important information.
If the only place that this kind of information resides is in your head, give serious thought to storing passwords and other such security information in a place that is safe yet accessible to others when needed.
Besides being helpful to your executor or to someone looking after your affairs while you are alive but in ill health, you may also find that organizing passwords is helpful to you personally. Most of us have been asked to create many passwords for online accounts, bank debit cards, credit cards, and more. Some passwords must be changed on a regular basis and the re-use of an old password is often not allowed. How are we expected to remember a growing number of unique and changing passwords?
If you have a computer, you may want to download one of the many free software applications designed to help you organize passwords. A brief search of the internet revealed several free software products such as KeePass, Password Corral and Efficient Password Manager. We are not familiar with any of these products and are not recommending any particular product.
Whether you use some form of password management software or another system, the key thing is to ensure someone (maybe even you!) can access passwords and other essential information when needed.
Reproduction of this blog is permitted if the author is credited. If you have questions or if you would like more information, please call us at 613 836-9915. This blog is not intended to be legal advice but contains general information. Please consult a lawyer or other professional to determine how the information in this blog might apply to you.
Blog posts pre-dated December 1, 2015 were originally published under Neff Law Office Professional Corporation.
