“And don’t forget a list of your ‘digital assets,’ such as Facebook and other online accounts,” said Eleanor Blayney, [CFP®,] consumer advocate with the Certified Financial Planner Board, who compiled her own list recently and was “shocked” that she had more online accounts than asset accounts. The need for family members to know where to find your digital passwords came home recently, she said, when a friend’s family member suddenly died but no one was able to close down his Facebook page.
Siblings should also discuss who will be their parents’ primary caregiver, if the need arises.
“Often, kids assume the daughter will take care of the parents,” but that’s not always the case, said Blayney. It’s important to choose someone and to let everyone know why. Read more >
November 24, 2013