Friday, April 20, 2012
This Can Not Be True
This sounds like either a late April Fool's joke or a solution for estate planners declining revenues. After several UK residents had difficulty accessing the on-line accounts of a deceased relative, people have started including account passwords in their wills. Because wills are public record, this solution seems worse than the problem. Of course, attorneys would remain very busy if they revised wills every time someone changed a password.
The better practice is to empower the executor to access the accounts. Additionally, a list of the passwords should be kept somewhere accessible after death.