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Discover Freedom Newsletter

This year, discover the freedom of an organized life!
February 2015

  

Sue Becker, CPO-CD, ADHD Specialist

Although it's not a pleasant subject, wouldn't it be great to know that if something tragic happened to you, your loved ones would know how to handle your affairs? I've written previously about creating an estate plan, but this month I've invited my colleague, Judith Kolberg, to share her wisdom on an often overlooked aspect of estate planning - your digital estate.  


 
For more information on planning your digital estate, check out Judith's free Digital Estate Plan Checklist. If you need hands-on help organizing your estate documents, please contact me - I'd be glad to help. 

 

Wishing you simplicity, harmony and freedom,

  

Sue Becker  

 Sue Becker, CPO-CD®, ADD Specialist

 

 


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Article  Plan Your Digital Estate

 

laptop-couple.jpg Although it's not my role to give you specific advice about your estate, I would like to tell you a story as a way of introducing you to digital estate planning:


My client Maxine died suddenly. I was helping organize her digital and tangible documents. Maxine's executor notified the banks and other financial institutions of her death. But figuring out the passwords, user codes and security questions needed to access Maxine's accounts took weeks of hard work to untangle. And just when the family thought the estate was well on its way being settled, digital assets emerged. There was a web-only checking account Maxine had in the cloud with no paper trail, and a PayPal account without any hardcopy statements.

 

We all have tangible and digital assets and information. I read about a man who owned a "digital sword" he purchased for $17,000 to play high-stakes, international video games - legally it was considered an estate asset. I'd like to suggest that this year you:

  • Create a password-protected document (like an Excel spreadsheet) of your login information so your executor and family can settle your account with less fuss and muss. In addition to your online accounts, consider "invisible" (web-only) accounts, including checking and savings accounts, investment and insurance accounts, as well as other places money might be stowed, like PayPal accounts.
  • Inventory your digital assets and list how to gain access to them. Include the aforementioned accounts plus Bitcoins, royalties you may have coming in from the sale of eBooks on Kindle and Nook, seller's accounts you might have with eBay, digital swords, etc. - you'd be surprised how many assets you have when you sit down and think about it. Even your domain name might have value to your estate. Find out at sedo.com
  • Consider the Excel spreadsheet or other document you create a part of your final documents. Lock it down with a password, disclosed only to your executor, of at least 15 mixed characters and numbers. Keep a hardcopy with your Will. Download it to a flash drive and hand it to your executor. Keep a copy for yourself on a flash drive and consider not having a copy on your hard drive at all. Some folks also like to store a copy in the cloud.

Guest columnist Judith Kolberg is the founder of Fileheads organizing service. Watch for her Digital Estate Planning eBook coming February 10. Meanwhile, you can download her free Digital Estate Plan Checklist. Please consult with your accountant, lawyer, estate planner, or other professionals involved in the disposition of your estate about developing your Digital Estate.  

 

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I look forward to discussing how I can help your team be its best in 2015 - just give me a call at

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Discover Freedom Internationally known professional organizer, author and speaker Sue Becker is the founder and owner of From Piles to Smiles®. Sue's company helps business and residential clients live more stress-free and harmonious lives by removing obstacles such as overwhelming clutter, piles of paperwork, and jam-packed schedules. To learn more about how to discover the freedom of an organized home and office and sign up for more FREE tips like these, visit http://www.PilesToSmiles.com or call 630-724-1111.
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 Sue Becker, All Rights Reserved Worldwide
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