Estate Planning In An Electronic Age
In days past, tracking down a loved one’s assets simply involved sorting through paperwork. You didn’t have to worry about passwords, online accounts and other complicating factors of today’s electronic age.
Now, when someone passes away, it’s far more difficult to gain the full picture of his or her estate. Vital assets — such as retirement accounts, investment funds and bank accounts — may become lost in cyberspace. Without the tools to guide them, your loved ones may essentially have to search for a needle in a haystack to manage your affairs and carry out your wishes.
Fortunately, you can avoid confusion and oversights by developing a thorough estate plan. At the Williamsville law firm of Voelkl Law PC, our attorneys are attuned to the challenges of estate planning in an electronic age. We can help you navigate these considerations to maximize the effectiveness of your estate plan.
How To Make Sure Your Assets Can Be Found
There are many ways to make it easier on your loved ones to carry out your wishes. Common strategies include:
- Maintaining a list of your passwords, account numbers, banking information and other vital data, and keep this record in a safe and secure place where your loved ones will be able to access it when the time comes
- Clearly outlining in your will (and other estate planning documents) all of your assets — and how to access them
- Using a power of attorney to grant a trusted individual the authority to manage your affairs in the event you become incapacitated
- Organizing your electronic records to make them easier to find
Of course, much depends on your situation. Our lawyers will work closely with you to develop the right strategies for your goals.