I recently read a great article on this very subject. Imagine a loved on passes and they have all their passwords in an encrypted file or worse, they were only memorized.

In this article on MSN Money, they tell a reader’s story where her father died without divulging the passwords to his computer or online accounts. After trying to get access without passwords, she said “most companies don’t just give you access — it is a process that can take weeks and months (if they don’t just say ‘Oh — he’s deceased? OK, we’ll close the account’ and then NO ONE has access!!)”.
Your family could lose access to other potentially important digital files, too, if it doesn’t have your passwords, including:

• Photo and music collections.
• Calendars and address books.
• E-mail accounts.
• Security and wireless-networking software.

There is a simple solution. Select one trustworthy person to give your passwords, usernames, financial account numbers and contact names. This may be a relative, a close friend, your lawyer, etc. In addition, you can leave a list of sensitive information in your safety deposit box at your bank. (Just be certain someone knows where the keys are!)

(Safe-n-Secure Privatize and Safe-n-Secure Password Manager both allow you to manage all of your passwords and accounts with only one login. They also feature backups and easily printable reports)

Finally, it is a good idea to not only leave this information with one person or in one place, but to have it in several safe spots. Anything can happen, from theft to natural disaster, so keep the information in a water- and fireproof safe at your home, a safety deposit box or similar hardware not located in your home, or even with a trustworthy relative or friend that lives out of state.
Be mindful of your security, and in the case that your family must suffer your traumatic loss, you won’t add to that stress with unnecessary paperwork and headaches to finalize your assets.

Possible usernames and passwords to include:

• Personal computers (Windows, e-mail, etc.)
• Bank and online bill-pay accounts
• ATM/Debit and credit cards
• Cellular phone and other voice mail accounts
• Computer and home security systems
• Safe combinations and the spot where you hide the keys
• Stock, retail and selling accounts (E-bay, Amazon.com, etc.)
• Entry gates and keyless entry locks

Be Safe,
Ray