Solomon, Steiner & Peck, Ltd.
Call today for a consultation:
216-245-0185 / 866-642-0932

Record of account passwords essential for estate plans

Most people in Ohio have some type of financial account that requires a password for online access. When someone dies suddenly and the relatives have no idea how to log in to bank accounts, email accounts or a personal computer, difficulties can arise. A person might be blocked from getting the specific information necessary for probate court, or no one will have any way to access and manage investments. Lawyers and financial planners recommend that people write down and securely store critical information like passwords and personal identification numbers for bank accounts, cell phones, email and online records.

Due to the sensitive nature of this information, a person needs to consider carefully who will be entrusted with the list of passwords and security codes. One approach is to create a storage account under a master password that provides access to all passwords. Half of the master password could be given to one party, such as a spouse, and the remainder of the password could be given to an attorney.

A home safe presents a less complicated approach to storage. People can easily obtain safes, and placing one in the home will make it accessible to family members. For extra security, the combination code could be stored at an attorney's office with instructions to make it available upon the person's death.

Gathering password information represents only one small task associated with estate planning. A person who desires advice about end-of-life arrangements could consult an attorney. Issues such as asset protection and the potential tax obligations of heirs could be researched by an attorney. Recommendations about the use of a will, trust or both could be offered. After guiding the person through decisions like the assignment of a legal guardian for minor children or creating an advanced medical directive, a lawyer could prepare all of the necessary documents.

No Comments

Leave a comment
Comment Information

2005 BBB Torch Award Recipient Recipients of the 2005 BBB Torch Award Honoring Business of Integrity

  • ASNP
  • CMBA Green Certified 2107-19
  • member of the national eldercare matters Alliance
  • Golden opportunities

We are here to help. Contact our attorneys today.   

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Mayfield Heights Office
6105 Parkland Boulevard
Suite 140
Mayfield Heights, OH 44124

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Mayfield Heights Law Office Map

Independence Office
6100 Oaktree Blvd.
Suite #200 - Park Centre 1
Independence, OH 44131

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Westlake Office
159 Crocker Park Boulevard
4th Floor
Westlake, OH 44145

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Mentor Office
5966 Heisley Road
Ste 201
Mentor, OH 44060

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Review Us