Do You Have a Password Vault?
IF NOT, YOU SHOULD — FOR YOUR FAMILY’S SAKE
As a Life Plan member, we have already prepared the necessary legal documents to grant your Trustee access
Initially, you may consider jotting down your username and password list on
paper. After all, who can hack into a notebook tucked away in your sock drawer? However, this method is neither secure nor practical for storing your login information. It’s easy to misplace a piece of paper, and it’s highly likely that you will forget to bring it along when you go on vacation. Instead, we recommend investing in a password manager, which provides secure and convenient online access to your passwords. A password manager is an online software program that creates a protected digital password vault. You can “lock” this vault with a single “master password” and access it from any device, such as your phone or tablet. Once you acquire a cost-effective password manager like LastPass, Dashlane, or Zoho, you only need to remember your master password — and you can share it with your Trustee and the agent designated in your Financial Power of Attorney. Since you are a Life Plan member, we have already taken care of the necessary paperwork to ensure that your Trustee and Financial Power of Attorney can legally log in to your accounts and handle bill payments when required. That’s step one. Step two involves creating a password list to facilitate their tasks. Take care of this now to make your life and theirs a little easier.
to your financial accounts. However, there is an additional step
you can take to further streamline their responsibilities: setting up an “online password vault.” Let’s imagine a scenario where you find yourself as a Trustee for the estate of a loved one who has unexpectedly passed away. Now, you are entrusted with managing their financial obligations, including paying bills like their mortgage, electricity, internet, and more. But here’s the challenge: These payments must be made online, and each account is protected by a unique username and password. Unfortunately, you are unable to locate this crucial information anywhere. This scenario occurs frequently and is among the main reasons why we strongly advise our clients to compile lists of their usernames and passwords. By creating a password catalog, you can facilitate your Trustee’s future responsibilities and save yourself from present headaches. Instead of constantly relying on the “Forgot My Password” option and enduring a laborious recovery process whenever your supposedly “distinctive” password slips your mind, you will have a reference in your list.
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5. Talk in terms of the other person’s interests. People like to talk about their lives and the things they enjoy. Ask about those topics, and you’ll be known as an excellent conversationalist.
“It was absolutely fascinating,” she said. Of course, she still wanted $100 for her trouble.
If you haven’t read “How to Win Friends and Influence People” yet, I highly recommend it. You could even bribe your children or grandchildren to join you in the challenge. They may protest, but I bet they’ll enjoy the book as much as my granddaughter did.
6. Make the other person feel important — and do it sincerely. Compliment other people regularly. You’ll improve their day and yours.
I hoped my granddaughter would take at least a few of these lessons to heart. It seemed vital, considering face-to-face communication is almost nonexistent in her generation and social interaction is becoming a lost art. But she did me one better. She finished reading her copy before school let out, and when she was done, she came to me and said, “Papa John, that was one of the best books I’ve ever read!” I thought she was messing with me, but then she told me that the book changed her perspective. When she went to school, she saw Carnegie’s lessons playing out right in front of her. It was like taking classes in a laboratory filled with guinea pigs!
– John Preston
P.S. My agreement with my granddaughter went so well that I texted two more of my grandsons, offering them the opportunity to take my “bribe.” After asking how many pages the book was, they both stopped texting me back! Maybe we should still be worried about the next generation after all.
2 PrestonEstatePlanning.com
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