Late last year, Brian O’Connell raised awareness around the issue of planning for a client’s digital estate as a guest blogger on the Cavalier Strategy. Since then, there has been a flood of coverage on this topic from multiple media outlets, reinforcing the same points that O’Connell raised in his post.
There are, as is usually the case, some additional twists and turns to this issue, and Steve Parrish, a frequent contributor to Forbes and National Advanced Solutions Director with the Principal Financial Group, makes some solid recommendations in his recent insight on this topic.
the hidden traps
Even doing everything right is no guarantee. There are subtleties in this developing area of planning that are difficult to anticipate.
Case in point is the example from Parrish’s column on Forbes.com regarding the trouble a widower faced upon his wife’s death with an electronic banking account.