As we continue to make the switch from paper to electronic files, we have to consider occasions where electronic listings have limitations. One of those areas is in leaving details for heirs. With the profusion of online banking and investment services, it can be difficult for heirs to know where to look for assets.

Ideally everyone would have a record of all their assets, including names of financial institutions, bank account numbers, and locations of physical properties. In the past, even if someone had neglected to document everything, there would usually be a paper trail. With electronic filing and passwords, this is no longer the case.

If you have opted to organize your estate with an electronic record, be sure that it is password protected. Then have a printed Letter of Instruction ready for your executor explaining where your electronic estate organizing documents are safely stored and other information that they will need right away. Tell your executor how to find that letter, which could be kept in a safe deposit or left with your attorney.