Why you shouldn’t leave your passwords in your will
With the rise of cryptocurrency and other tech-based assets, passwords are beginning to be passed down in wills.
But a wills and estates lawyer says leaving your passwords in your will is a bad idea.
“We would encourage people not to leave passwords in their will, the main reason being that once you go through through probate? process your will actually becomes a public document,” Andrew Meiliunas, senior associate in wills and estates law at Maurice Blackburn, told Ross and Russel.
“With that information in the public domain, we would consider that to be pretty risky.”
Instead, people should let the executor of their will know what digital assets they have, and where to find their passwords.
“We encourage people to keep their most important documents in one sort of logical place,” Mr Meiliunas said.
“If people don’t know you have it, they don’t know to look for it.”
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