Can I do this? How do I have enough time in the day to even comprehend all of my Dad’s stuff? I have my own family, kids, a single Mom of two, I don’t have time for this.
I guess nobody has time for this. But, “we” culturally keep making the same mistakes over and over again, by not sharing “all of the pieces of our puzzle” with those close to us.
What types of things are your “pieces of your puzzle”?
Those are all of the things that Shona talks about in our recent interview.
Luckily, Shona had her Dad’s key when it became time to go to his basement suite to find his will, documents and his wishes when he tragically passed away at the hospital.
She started there. But, rambling through all of his pieces of paperwork, every piece of paper, and files trying to find “his pieces of his puzzle”.
Definitely a huge undertaking and not really fair to leave it to those you leave behind.
MOST DIFFICULT TASKS
When asking Shona, “what types of things were the most difficult for you and your Mom”, her answer was,
“What my Dad owed was the most difficult to get paid, for example, something as simple as the bridge tolls. Or changing the ownership on his vehicle, or his old vehicle in the garage.”
Shona said, “I hope your parents when they pass away don’t own a business because that is a huge issue to resolve. And leased vehicles, hobby vehicles, or even what their passwords are.”
“If you can learn just a few things from my interview with Tina, please take it to heart and start getting your plan done and tell those that you love around you to do the same.” ” If you need help or even to get somewhere to put it all in so it’s in 1 place. I would recommend something simple, like Your Backup Plan App.”
Developer and Creator of Your Backup Plan App, a mother of 2, and a Financial Advisor at heart.
Spending years developing a simple, easy way for a family to store their essential Life information so it was instantly available for those who need it most, in the hour of need. It quickly went from over a 200 page book to an easy and simple APP for your Smartphone. How brilliant is that?
It is Tina’s passion to assist others and help prevent this heart crushing stress in the most difficult times in our lives.
HAVE YOU THOUGHT ABOUT YOUR DIGITAL STUFF?
Your Digital assets or your Digital property?
You may have pensions, documents, bank accounts, investments property, vehicles, art, etc but you just don’t think of your digital presence online as an asset of yours.
But, according to the new world encompassing us today to is! And it can really screw your family up if they can’t access of any your digital assets.
What are some of the digital assets you probably have today?
1- All of your online accounts such as: credit card and bank accounts, rewards account, frequent flyer or hotel, car rewards.
2- Digital files that you own, could be photos, videos, or music or diaries
3- iTunes account, Google Play accounts
4- Email accounts, all social media accounts, facebook account, networking accounts, e-commerce accounts, EBay, Amazon, PayPal, Staples, Best Buy, Square, etc.
5- Websites, blogs, ancestry.com, domain names
6- EBooks, Kindle etc.
7- Online gaming assets, smartphone games, World of Warcraft, Second Life
8- Any online casino, poker, gaming accounts ie, Entropia Unverse, or Space Station.
9- Smartphone, passwords, vmail, home security system etc.
10- Medical records
These types of assets are not necessarily included in your will and have a lot of grey areas associated with them on what is ownership, what is transferrable.
Of course these types of digital assets are just as important as any physical assets that you have and the best way to keep full control over them is to have a plan so that on death or if you were to incapable, these digital assets can be monitored, altered, cancelled or transferred to your beneficiary as per your wishes.
How do maintain that control? With a plan of course. The only system that I have seen to date is the new APP that has been released, Your Backup Plan App. This APP ensures that you have a beneficiary to control your wishes after you are unable to. It encompasses all of the digital world as well as the physical assets in one APP.
Most of the digital accounts all have different policies on cancellation or transfer of the assets. So, it is best that you know all of the passwords, logins and usernames to the accounts so that the next person will have full control over them in the event of incapacity.
Some of the digital accounts request a court order to access the person’s past digital account. To avoid those types of inconveniences, costs and stress you can manage your digital property by sharing the information with your beneficiary. But, some cases people don’t feel comfortable doing that until they are unable to. They feel they don’t want to lose control until they have to.
And all ages should be considering this type of planning. This isn’t just for seniors. A matter of fact, statistics show that 50+ age group have 80% digital assets and 20-50 age group have 100% digital assets.
Estate planning in both Canada and the United States don’t seem to have any type of legal protection for any digital property. And surviving family members are faced on a daily basis with the challenges when trying to access or delete any online accounts under the name of the deceased person. And what is even more complicated is that most states, jurisdictions, or provinces have varied rules governing the release of information to the family member without a court order. Of course some people this is because of our new world of fraud.
Some digital property is worth thousands, if not millions so it should not be forgotten.
What about money making Bloggers?
Avid marketers, bloggers, or account holders of money making ventures should definitely set up their own legal structure to protect their interests in any jurisdiction and ensure you have a trustworthy beneficiary or partner that can be part of the equation. That can be arranged using Your Backup Plan APP.
Check out CBC News Video: Apple demands widow get court order to access dead husband’s password
YOUR BACKUP PLAN APP
NOT A CAKEWALK!
A friend of mine just told me about her recent shock of a start to 2016!
Her mother passed away a few months ago from a sudden heart attack. With all of the items still to be done with her mother’s estate she was determined to now go into 2016 and take on all of the tasks with her mother’s estate in stride.
Until she recently got a phone call from the hospital. Her phone started to ring at work and she glanced down at the number. She said, ” hmmmm. that’s strange it’s the New Westminster hospital calling me.” She left it and called her younger Aunt (one of the other sisters) right away. “Yes, it’s true, I gather the Aunt had called the ambulance by herself because she wasn’t feeling well a few days ago.” Unfortunately, passed away a day later. The hospital didn’t have any next of kin to contact when she passed away. They only had the next of kin listed as the sister who had a heart attack in October. The hospital then had the daughter of next of kin listed for her, so they thought they would try contacting her. What a dilemma.
So, they both jumped into their cars and drove over to the hospital. “Are there any belongings to take with us?” “No,” they said, ” just the little bit that she had on when she came in.” “But, where is her purse and keys then?” “Well, we haven’t seen any at all, otherwise it would be listed on her chart,” the nurse said.
So, off they went to her Aunt’s apartment.
They called the apartment Manager, to let them into the apartment so that they could get the Aunt’s dog out since it was definitely a day or two by now since she went into the hospital and didn’t tell anyone.
The apartment Manager said, “I’m sorry, we can’t let anyone in”. “You are not her immediate family.”
“But, her dog is in there and we really just need to get the dog out, you can come in with us.”
So, since the dog was in the apartment he thankfully let them in, whew.
He said, “But, after this entry I will have to change the locks on the apartment.”
So, he let the women into the apartment, to find the apartment riddled with bed bugs, but no time for that right now, they took the dog back to their place.
Well, one step at a time.
So, it’s been about 1 week now, and they need to transport the body from the morgue of the hospital to the funeral home. But, they will need the appropriate documentation to do that.
What did the Aunt want to have happen? No one knows. Her children have passed already, and she had 2 or 3 grand children left.
The one sister will have to complete the documentation and complete the paperwork to prime the funeral proceedings, there are not many choices really of who gets that treacherous job.
It hasn’t started very well, and nothing has been organized even the smallest of things such as her purse and keys!
What will they do with the items in the apartment? Who cleans that up and who is responsible for the bed bugs left in the apartment? Did she have any bills that need to be completed?
What kinds of things will they be able to find? What about bank accounts and investments? Did she have a funeral planned at all anywhere?
What were the Aunt’s wishes?
Will this be a case of unclaimed funds left in banks?
So, as this progresses, I will give you an update of their situation.
Stay tuned for more to come….
Your Backup Plan
BECAUSE FAMILY MATTERS