Have you planned for the inevitable?
Usually this question means estate planning, wills, funeral costs and wishes etc. But there can be one important thing that’s overlooked. A catalogue of information. All the accounts. All the passwords. Subscriptions. All the pin codes. How everything is paid for. The social media accounts. The email accounts. Or even better, the master login for a password manager or vault like LastPass, where everything is stored. How and where archived information and photos are stored. How quirks or emergency issues are dealt with around the house.
Why is this important?
Because one person in a couple may overwhelmingly deal with finances and pay bills. They may know all the bank accounts, credit cards, set up accounts and know all the passwords. They may know where all the important switches are around the house. The other person may only have a fleeting awareness of various accounts and how things work, or maybe no awareness at all. While it would be better if both knew everything, for various reasons that may not happen, but at some point, they may be required to know, or at the very least, be able to access that information.
Read the full “The Continuity Binder” Post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone looking to build a portfolio should seek financial advice to find out which strategy is right for them, if you are a high net worth investor looking financial advice then you should consider a financial adviser with high net worth experience, they can help you identify your goals and put in place a reliable strategy to pursue them.
