Protecting Your Legacy: Online Password Security in Estate Planning

In today’s digital age, estate planning isn’t just about physical assets—it also includes protecting online accounts and sensitive data. Whether it’s financial accounts, legal documents, or personal email access, strong password security plays a critical role in safeguarding your estate.

Why Password Protection Matters

Poor password security can lead to unauthorized access, identity theft, and even financial loss. Without proper measures, sensitive estate planning documents could fall into the wrong hands. Let’s make sure your online accounts are locked down tighter than your secret family recipe (like my Mom’s potato soup recipe that she still won’t give me).

Steps for Strong Password Security:

1. Use Complex and Unique Passwords

• A strong password should include:
  •  A mix of uppercase and lowercase letters
  • Numbers and symbols
  • At least 10 characters
  • Consider using passphrases—long, memorable sentences that are harder to crack (e.g., “LawyerFunseth@IsTheBest!”).

2. Utilize a Password Manager

• An online password manager securely stores and encrypts your passwords, reducing the need to remember multiple complex passwords.

3. Enable Two-Factor Authentication (2FA)

• 2FA adds an extra layer of security by requiring a second verification step, such as a code sent to your cell phone. This significantly reduces the risk of unauthorized access.

4. Regularly Update Passwords

• Change passwords periodically, especially for high-value accounts like banking or estate planning portals. Avoid reusing passwords across multiple platforms so that if one platform is breached, the others will remain protected.

5. Securely Share Estate Planning Passwords

• For estate planning purposes, make sure your trustee or executor will be able to access critical digital accounts if necessary. Use a secure method (such as an encrypted document stored in a password manager) to share access details.

6. Watch Out for Phishing and Cyber Threats

• Educate yourself and your loved ones about common cyber threats. Be cautious of emails or messages requesting sensitive information, and always verify the source before clicking on links.

7. Create a Digital Asset Inventory

• Document all important online accounts within your estate plan to make things easier on your executor. Consider including:
  •  Email accounts
  • Financial platforms
  • Cloud storage
  • Social media
  • Subscription services
  • Store this information securely and update it regularly to ensure accuracy.

Online security is an essential part of modern estate planning. Prioritizing cybersecurity within estate planning protects your financial future and personal information, providing peace of mind for you and your loved ones.