Simplify the future with
smart digital record planning
Planning for the future usually involves creating a will or assigning a power of attorney, but many people forget about their digital footprint. Here are a few proactive steps to take today that will ensure loved ones can easily take care of online accounts, personal information, and assets when needed.
Inactive social media
While it is easy to leave social media accounts inactive, they can sometimes pose a risk. Unused accounts can be targeted by hackers since the passwords will not be updated. Many social media platforms allow users to delete their accounts or others can have them memorialized, allowing people to share posts on the page while keeping the profile inactive.
Multi-factor authentication is common for many social media sites. Keeping track of the apps or methods used for multifactor authentication can help loved ones access important accounts when needed.
Passwords and backup contacts
An organized list of passwords and PINs can reduce hassle and roadblocks. Password managers or password notebooks are two common ways to keep information safe and easy to access. Some online password managers only require a master password, which can easily be stored with other sensitive data in a safe place.
Phone, computer, and other device logins should be labeled and updated regularly. Online subscriptions are especially important to take care of since they may continue billing customers until they are manually cancelled.
Adding alternate contacts can also simplify accessing and managing online accounts. For example, another person who is authorized on the account can claim capital credits on behalf of Golden West members with Social Security numbers already on their account. Otherwise, multiple legal documents and paperwork are required to claim capital credits.
Organized paperwork
Instead of letting paper bills stack up, many companies offer paperless billing. Oftentimes, such as with an eBill account from Golden West, customers can maintain a digital record of payment history accessible anytime.
Important documents should be organized together instead of spread out around multiple filing cabinets. Labeling folders makes it easy to find specific information. Organize documents into groups of financial, identifying, and contract information. A fireproof safe is a good place to lock away sensitive documents like Social Security cards, birth and marriage certificates, and passports. Just make sure a loved one has a spare key or knows the code.
Instead of waiting to take care of important information later, it is recommended to organize and note important personal information as it comes. As time marches on, keeping things in order may get more difficult, but doing it today can save time and effort for loved ones.
