6 things I learned from my mother’s death that can save your heirs a lot of stress

by | Jan 25, 2024 | Stock Market

This article is reprinted by permission from NextAvenue.org. My heart was shattered last year when I lost my mother. Luckily, she did an exceptional job overall making my inheritance process as easy as possible, but there were some ways that the experience could have been less stressful.

In another article on this subject, I shared some expert tips on avoiding probate, which is one way to make your heirs’ inheritance process much easier. Here are six more ways to help your heirs have a painless inheritance experience.1. Keep a list of passwords for everything tech We keep a lot of important information in our cellphones, computers, online accounts, tablets and other technology. When you die, your heirs will need access to that information, which means they will need your passwords and pin numbers — not just for your hardware but things like pensions, bank accounts and investment statements. Don’t forget social media usernames and passwords. These should be kept somewhere safe, but where your spouse or other trusted individual can find them, says Tracy A. Craig, Partner and Chair of Trusts and Estates Practice Group at Seder & Chandler, LLP, in Worcester, Massachusetts. “Without these, it may be impossible to gain access to said devices and accounts. Certain tech companies require the executor of the estate to go to court to obtain a specific order to access passwords, which can cost thousands of dollars. I’ve had clients who needed to go …

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[mwai_chat context=”Let’s have a discussion about this article:nnThis article is reprinted by permission from NextAvenue.org. My heart was shattered last year when I lost my mother. Luckily, she did an exceptional job overall making my inheritance process as easy as possible, but there were some ways that the experience could have been less stressful.

In another article on this subject, I shared some expert tips on avoiding probate, which is one way to make your heirs’ inheritance process much easier. Here are six more ways to help your heirs have a painless inheritance experience.1. Keep a list of passwords for everything tech We keep a lot of important information in our cellphones, computers, online accounts, tablets and other technology. When you die, your heirs will need access to that information, which means they will need your passwords and pin numbers — not just for your hardware but things like pensions, bank accounts and investment statements. Don’t forget social media usernames and passwords. These should be kept somewhere safe, but where your spouse or other trusted individual can find them, says Tracy A. Craig, Partner and Chair of Trusts and Estates Practice Group at Seder & Chandler, LLP, in Worcester, Massachusetts. “Without these, it may be impossible to gain access to said devices and accounts. Certain tech companies require the executor of the estate to go to court to obtain a specific order to access passwords, which can cost thousands of dollars. I’ve had clients who needed to go …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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