Passing on online passwords imperative at death
HENDERSON, Nev. – Oftentimes when someone passes away friends and family are left to pick up the pieces and distribute the deceased’s property. However, very rarely does the deceased leave information to their loved ones regarding electronic passwords and online account information.
Brooke Borg, partner with Las Vegas-based law firm Lubbers & Borg, has been helping Las Vegas Valley residents for almost 10 years with their wills and trusts and has seen people struggle with finding passwords and pertinent information after a loved one has passed on.
“In this world of ever-changing technology, everyone has a password to something, whether it’s online banking, an ATM card, e-mail accounts, Paypal, Facebook, credit cards or other automated systems,” Borg said. “Because the frequency of passwords is increasing, so is the need to ensure your family and friends have access to such guarded information at your death. Without that information, the process of finding passwords and account numbers can be lengthy and cost substantial amounts of money by needing attorneys and probate.”
One way to ensure a person’s heirs obtain important information such as electronic passwords is to include it in an estate planning document. If that still seems unsafe, there are businesses that provide safekeeping of passwords for a fee while a person is alive and pass along the information to beneficiaries at the time of death.
Originally founded as The Lubbers Law Group, Lubbers & Borg has been known as an advisory firm for small businesses since its establishment in 1999. The firm focuses on real estate matters, business planning, asset protection and probate.
For more information regarding Lubbers and Borg call 702-257-7575 or visit www.lubberslaw.com.