Dealing With Passwords in Estate Planning

Have you figured out what to do about your passwords in your estate planning? We have some thoughts, but it is admittedly a difficult problem. Do you make a list of passwords? How do you keep that list secure? How often do you update the list? Can you just have your computer remember all the passwords? What about websites and applications that refuse to allow the password to be memorized? We favor password managers — programs that automatically keep track of your passwords. They even help you come up with complex passwords to meet your software’s requirements. That way, you can keep just one password secure. It’s also easier to make it available to your successor trustee, agent on your power of attorney and even the personal representative of your estate. In coming years, passwords in estate planning will become increasingly important. As you grow (and improve) your passwords, it will become increasingly important to deal with them.