I think we can all agree that, for the most part, our advanced technological world is a good thing. Today we rely more on computers and cell phones than ever before. Most everything we do can be done online with the click of a button. For instance, we can easily access our financial accounts, pay bills, and buy and sell stock all from the comfort of our own home.
For security purposes, online financial access requires the use of passwords. For some married households, only one spouse has been in charge of handling the financial decisions and accessing online accounts, etc. What if that spouse passes away first? Or that spouse becomes incapacitated? And the obstacle is present for the loved ones of single individuals who have handled their financial decisions by themselves. Unless passwords were disclosed prior to incapacitation or death, the loved ones stepping in to assist will be at a technological deficit because they will not be able to quickly access the financial information.
Please have an annual discussion with your loved ones about financial account passwords, location of safety deposit keys and important papers. Contact one of our attorneys to review your estate plan and learn more about the contingency day checklist.
What the Attorneys of Morris Hall Can Do For You:
The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down. The attorneys also help those in Arizona to apply for and receive Medicaid assistance and Veterans Benefits. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- What the Proposed Treasury Regulations Mean for Deductions Under Internal Revenue Code Section 2053 - September 16, 2022
- Does Your Estate Have Sufficient Liquidity? - September 14, 2022
- Understanding Asset Protection Trusts - September 12, 2022
Leave a Reply