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Estate Planning: Keeping Current Online - 10/24/2011 9:47:06 PM

MistressDarkArt

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I made a living trust many years ago when paper statements were the norm. Each month I put the latest statement/document in the folder along with the trust so my beneficiary would physically have access to the most current information available. With more and more business matters conducted online (account opening/closing, password resets, etc...) can someone suggest an organized way to keep my beneficiary current with digital changes (dang, it's hard enough for me to keep up with these!)

Thanks!

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RE: Estate Planning: Keeping Current Online - 10/24/2011 10:04:40 PM

LafayetteLady

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From: Northern New Jersey
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Try asking your bank what they have available.

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RE: Estate Planning: Keeping Current Online - 10/25/2011 9:53:10 AM

servantforuse

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There are scanners out there that will convert paper receipts and documents to on=line storage. Might be an easy way to keep track..

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RE: Estate Planning: Keeping Current Online - 10/25/2011 11:14:36 AM

LafayetteLady

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Keep in mind that you don't need to keep all statements forever and ever. If nothing has changed, replacing the old statement with the new should be fine. When you make a change, keep that statement, etc.

My friend's mom just recently died and trying to tell the 83 year old aunt that social security statements from 1989 were of no use was almost humorous. They kept every statement for every thing. A real pain in the ass.

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RE: Estate Planning: Keeping Current Online - 10/25/2011 1:52:34 PM

MistressDarkArt

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Thank you everyone. I think I didn't express myself very well. I no longer get paper statements from the various accounts. My beneficiary has the log-ins of all the accounts so she can access them should there be a need. The difficulty I'm having is finding an efficient way to keep her updated as accounts come and go. I've been sending her an email every time something changes but that has gotten pretty unwieldy with password resets and account closures or opening. There has to be a more centralized, consolidated way to do this.

Thank you for your suggestions. And yes, I agree I don't want to save every piece of paper for ever and ever which is why I've transferred as much as possible to online statements. It's just starting to get away from me now that it's more than just a basic bank account or two. 50+ brain-fade is not helping in the least!

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RE: Estate Planning: Keeping Current Online - 10/25/2011 4:33:25 PM

TreasureKY

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From: Kentucky
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quote:

ORIGINAL: MistressDarkArt

Thank you everyone. I think I didn't express myself very well. I no longer get paper statements from the various accounts. My beneficiary has the log-ins of all the accounts so she can access them should there be a need. The difficulty I'm having is finding an efficient way to keep her updated as accounts come and go. I've been sending her an email every time something changes but that has gotten pretty unwieldy with password resets and account closures or opening. There has to be a more centralized, consolidated way to do this.

Create a single document that has a list of all your accounts and passwords and load it up to one of the free online file storage accounts (Google Docs, USentIt, etc). Give your beneficiary access to the account. Anytime you make a change, update the document in storage.

If you are worried about security, password protect the document and provide the password to your beneficiary.

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RE: Estate Planning: Keeping Current Online - 10/25/2011 5:33:09 PM

MistressDarkArt

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Yeehaw Treasure, that's exactly what I was looking for! You're a treasure indeed! I didn't know such services existed. Thanks!

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RE: Estate Planning: Keeping Current Online - 10/25/2011 5:41:04 PM

MistressDarkArt

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Ooops, forgot to ask: does anyone have a favorite free storage site?

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RE: Estate Planning: Keeping Current Online - 10/25/2011 5:49:07 PM

refresh

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I like Google Docs and dropbox, Google Docs lets you edit stuff online whereas dropbox only lets you sync to it, but automatically syncs between computers. For this job though I'd be using google docs as then you and your beneficiary would only need a web browser on any computer to access and change details.

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RE: Estate Planning: Keeping Current Online - 10/25/2011 6:03:20 PM

MistressDarkArt

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Thank you refresh! I'm off to go check them out right now!

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RE: Estate Planning: Keeping Current Online - 10/25/2011 6:15:54 PM

TreasureKY

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quote:

ORIGINAL: MistressDarkArt

Yeehaw Treasure, that's exactly what I was looking for! You're a treasure indeed! I didn't know such services existed. Thanks!

You're most welcome!

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RE: Estate Planning: Keeping Current Online - 10/30/2011 6:40:42 AM

gorgeoushair

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g

Vanilla, I am so ready to go paperless, yet am afraid of the free v. paid storage facilties-- which I know very little about, frankly. Is there any reason to be concerned re: permanence, security, other reasons I have not thought of? Thanks.

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RE: Estate Planning: Keeping Current Online - 10/30/2011 6:43:30 AM

gorgeoushair

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Hmm...think I goofed in posting a question.

Vanilla, et al. I am very ready to go paperless, yet am concerned about these free and paid off site storage places. I don't know too much but have heard wonderful things about them. How permanent are they, secure, anything else I should know? I am not terribly tech savvy. Any thoughts would be helpful. Thanks.

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