Most people understand that they must provide for the disposal of their assets on their death through either a will or a trust. The Executor in your estate is given the role of analysing your affairs and distributing your assets.
As companies continue to evolve, passwords are often replaced with fingerprints, face scans, or passcodes which would make it almost impossible for your Executors to access this information and to finalize it upon your death.
We advise our clients to jot down a list of accounts and passwords on paper and store it with their will.
Without being able to access these accounts, your loved ones left behind could lose out on information, photos, and other priceless keepsakes contained within these accounts.
Some companies such as Apple have introduced the concept of ‘legacy contact’ in their settings which allows a designated person to access the digital content of an account holder after death.
Digital assets are just as important as tangible assets and should be accounted for and provided for in estate planning documents.
If you would like to discuss making a will or creating an estate plan, contact us at McElhinney & Associates Solicitors on (074) 9175989.
