Are the "Keys to your Castle" Actually Accessible?
Are the "Keys to your Castle" actually accessible?
Watch the video or read the summary below to learn more!
First of all, you might be asking: What even are the "Keys to your Castle"? What are you talking about?
This is a little phrase I like to use to talk about what information you have documented for people to get into the information you have documented. I talk to a lot of people and they tell me, "Oh you know my partner knows that everything is on my laptop." Well, it's great that everything's on your laptop, however, does your partner, or someone else, have the password to get into your laptop?
This is the arena of items we are talking about. It can be access to your computer, your password manager, your phone, or your tablet. They can be great holders of all the information but how do people even get in?
This also deals with items of a more practical nature, such as:
- Who are the people that can get into your home?
- Who has a copy of your key or who has the code if you have keyless entry?
- Is there a security system?
- What's the code to that?
- Where are copies of your password to all that laptop and password manager and other items?
So why is this important?
Sometimes people take the time to document and store all this information that's important to them. It is really fantastic. However, a lot of people forget that final step and that's the sharing and that other people need to know that information in order to move things forward on your behalf or if that happens on the behalf of your estate.
I've heard anecdotes from estate attorneys where after a loved one has passed, the family couldn't find a will, and they had the loved one cremated. They then later find the will that stated that they would like to be buried and also had a prepaid burial arrangement. This is a bit of a dramatic example, but it shows that people need to know where the key pieces of information are if they want to fulfill your wishes.
So here are your action items:
List your own "Keys to your Castle." Again that's your password manager, a laptop, or computer password or how to access your tablet or phone.
Then figure out what's the most secure, comfortable way that you would like to share that information with someone? Perhaps within a fire safe for a locked box within your own home. Then if something were to have happened the person just needs to know the location, what the code is to get in, and where they can find that.
Share that information with your emergency backups or your executor and power of attorney because they need to know where that information is. That's that first step.
Thanks so much for watching. Don't hesitate to reach out with me with any questions you might have. Comment here on this video, shoot me an e-mail, or you can DM me on Instagram at @letsbackupyourlife.