Estate Planning Includes Protection of Your Identifying Information

 Posted on July 14, 2016 in Taxation Law

In a time where technology makes our lives so much easier, it also makes it easier for identity thieves to steal our identity. So, we know that we all need to take necessary precautions to make sure we are not subjecting ourselves to this breach. But what about when you pass away? Even after our death, it's still possible for thieves to breach certain information. Here are some tips on to follow when you're considering estate planning to ensure you're protected, even after death:

Executor's Duties

When your named executor is getting ready to probate your will, he has many duties before him. Specifically, he's in charge of gathering your assets and paying bills.

Account Closures

One important part of his job is to close all of your bank accounts. Any money remaining in those accounts are transferred to a newly-established estate account. If your executor fails to close one of the accounts, that account can fall through the cracks and into the wrong hands. Make sure you list all of the accounts you have and attach that listing to your will, so your executor is able to close each of these accounts.

Identification Disposal

Make sure that you include a listing of all the different forms of identification you have and note where those items are kept. This includes your social security card, drivers' license, passport and even your work ID tag. Your executor should make sure all of your identification is properly disposed of. Passports can be turned into the Department of State, and most DMV offices will accept and destroy licenses of the deceased.

For more tips on ensuring your private information is kept private even after death, contact us.