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Don’t Leave Headaches For Your Heirs We’ve been told over and over
again not to let others know our passwords.
This is certainly valuable advice, but what if you died and no one knew
your passwords? How would your relatives access any important financial records
kept in your personal computer? If your relatives have to
hire experts to break into your
password-protected files, it can cost a lot (the current rate is $150 to $300
per hour). And having to hire someone
can only add to the grief and stress your loved ones will already be going through. The answer is to keep your
passwords secure while you’re alive yet available when you’re not. Here are some ideas on how to do
this: Ÿ Put a list of passwords
in your safe deposit box. Ÿ If you don’t have a safe
deposit box, leave the list with the lawyer who drafted your will. Ÿ Tell your executor and/or
spouse the passwords. Ÿ Write the list on a sheet
of paper and place it in folder with your will and power of attorney. Ÿ Do not include the
passwords in the actual text of the will because when the will becomes a public
document, your passwords will become public, too. Ÿ Don’t try to get around
the problem by using obvious passwords, like your birth date, your child’s
birth date, etc. They’re too easy for
others to guess and steal. And don’t use
the word “password.” Think of something
random. Ÿ Do not keep your password
list in the computer. How will someone
access that list without your computer password? Source: The Star-Ledger, 8/18/03
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