RUFADAA

No the title does not have typos nor is it a word in another language.  It is an acronym for – are you ready? - the Revised Uniform Fiduciary Access to Digital Assets Act.  That’s a mouthful but a topic for discussion.  You see the word “digital” so you know it has something to do with our online presence.  If you have shared your passwords and accounts with someone or have at least written down the info for your heirs to find, you may not be concerned about it.  But, if you have chosen not to pay attention to your digital life, then you must read this.  According to:
http://www.cbsnews.com/news/say-youre-dead-who-gets-access-to-your-online-accounts/, 20 states have enacted RUFADAA which will govern how your family/executor will be able to gain access to your online accounts if you die or become disabled.  It is anticipated that by the end of 2017, all states will have enacted this law.

I wrote about Facebook’s Legacy Program in the past (see Security Settings in Facebook) and check out Google, Yahoo, etc. for info about their regulations if you die or become incapacitated.  So even if you have a will or power of attorney, your digital life may just hang out there without anyone being able to either close it down or view it.  Think of all the photos that are stored on a site.  Think about online bank accounts.  If no one knows they are there and if no one has access to the passwords, then there could be problems for the family. 

An attorney quoted in the CBS article suggested the power of attorney document be amended to include information about digital access.  Yes, this is confusing.  Yes, you may not think your online presence is so important and yes, you don’t think anyone in your family would want access to your online life; however, what we think about today may change so drastically in the future.  When Pennsylvania passes this law- and it’s pending- I am going to contact my attorney to find out what documents I have to update. 

If you found this post helpful, please let me know.

Deliberate Steps

The following is a summary of an article by Miriam Goodman from nextavenue.org:

If you have been chosen to be the executor/executrix, you may need to get a tax ID number for the estate.  Contact the IRS or go to their website.  This is why it is so helpful if you know in advance that you will have this responsibility.  Hopefully, if you have had the conversation where you learned that you will be responsible, you know where the bank accounts and credit cards are located, whether or not the funeral is prepaid, where the burial plot is located, and the names of the lawyer and investment personsfinancial manager

You will also need a number of death certificates to satisfy the paperwork for banks, insurance companies and the like.  People have told me they needed 30 copies while others only needed 10.  You have to know your situation so you don’t have to wait for additional certificates if needed.  I didn’t know one needs a death certificate to have mail forwarded.  Makes sense, though.

The executor needs to check bank statements quickly so that any automatic deposits and withdrawals can be stopped. 

Another step, and they are not in any particular order, is to notify Social Security and to remember to ask for the lump sum survivors benefit which is given to help with funeral expenses.  Don’t get excited—it’s a drop in the bucket but a drop here and a drop there can add up to a puddle.

If it is applicable, notify the Veterans Administration, too.

And remember, the executor is doing all of the above while he is in mourning.  It’s a sad time yet one that is filled with paperwork and details. 

You can read more about this in Scott Taylor Smith’s When Someone Dies: the Practical Guide to the Logistics of Death.

If you found this blog helpful, let me know.

LOVE

I attended a lecture last week and the speaker talked about the death of his father.   The speaker is now the same age as his father was when the father died.  He said he was going to get all his affairs in order with instructions for his family and he was doing it out of love.  He also said- and this is what caught my attention- that when it comes time for his family to follow those instructions, they will do it out of love, too.  My focus has been on the convenience, the lessening the load for the family.  I overlooked the most important aspect of family or friendship- love. 

Although the speaker was in his early 70’s, the importance of getting  one’s papers in order and providing instructions for what should be done after death is not limited to older folks.  Young people and middle aged individuals should think about how much they love their family and friends and then out of love, not obligation, takes steps to ease the burden for those left behind. 

 

If you have not downloaded my information template, please email me and I will send you a copy.   You can send me a message in the comment section below.  

Until next time…

Social Security Benefts for Minors

During lunch on this gorgeous fall day in an outdoor café, my friend, who was widowed last year, told me that her daughter was receiving social security until she finishes high school.  She was not aware of this benefit until another friend mentioned it to her.   Of all the professionals with whom she was in contact as a result of the death of her husband, it was a friend who told her she should apply to Social Security on behalf of her daughter who is still a minor.  Such important information.  So create a note and leave it with your important papers if you have children under age 18 or who are still in high school.  Someone would need to apply for these benefits—the government will not track your children down and offer them the benefits.

In some countries, organ donation is expected and one can “opt out”.  Here in the US, one has to “opt in”.  And to receive insurance benefits of any kind, one has to “opt in”.  The responsibility falls on the consumer in the US.

Make that responsibility more palatable by organizing your important papers, having THE conversation with your family about your desires for end of life care, and collecting information for your survivors that will make their journey less difficult.

As always, if you have questions or comments, please email me or leave them in the space below on the web version.

Life Insurance and Beneficiaries

Where has Naomi been?  On an around the world adventure?  No, it’s summer, family obligations, vacation, and a bit more laid back life than fall and winter.  September is here and I’m trying to get back on a schedule.  So here goes…

Several months ago I saw a "60 Minute" rebroadcast of a story about the responsibility of life insurance companies when it comes to paying out death benefits.  There is no legal responsibility on their part if they learn about the death of a policy holder to payout the benefit to the beneficiary unless the beneficiary contacts the company.  So even if the next door neighbor of the insurance agent dies and the agent knows this, the agent must wait until the beneficiary or a designated person contacts the company. 

I tried to find the episode; it seems to have been taken down- www.cbsnews.com/.../60-minutes-viewers-call-foul-on-insurance-companies/.  The gist was that companies earn interest on monies that are not paid out because no one has come forth with a claim.  SO IT IS EVEN MORE IMPORTANT FOR US, AS RESPONSIBLE ADULTS, TO TELL AT LEAST ONE PERSON WHERE OUR IMPORTANT PAPERS ARE KEPT.   I called my insurance company and I was told that beneficiaries or their designee have to contact the company to file a claim before the due date of the next premium payment.  For example, if I pay my annual premium in January and I die in February, my beneficiaries have until December to file a claim.  Why?  Because if I do not pay my next premium- and I can’t because I'm dead- the policy will lapse and the beneficiaries will get nothing if they have not filed a claim before the coverage lapses.  That’s important. Especially if I pay in January and I die in December, the timing is critical- the heirs have to act quickly.

My take away from this is I am going to write a note and put it with my papers telling my heirs to call the insurance company ASAP and get the ball rolling. 

This is not a discussion of the moral obligation of insurance companies, it is one more reason to get your act organized.  You don’t want your family missing out on all those premium payments you made with the intent to help them pay off your final expenses because no one knew you had a life insurance policy.

Comments?  Questions?  If you have life insurance, call you agent and get clarification.  Policies and companies vary.  

Goals

I’m about a quarter of the way through Angela Duckworth’s GRIT in which she discusses goal setting as it relates to passion and perseverance.   Yes, I’ve read about goal setting before; this time something struck a chord.  She talks about selecting an overarching goal and then creating the behaviors to help you get to where you want to be.  In looking at my life, I see that my goal is to make my life as simple as I can so that my family will not have to deal with many complications as I age.  Granted, some things are out of my hands- Mother Nature, accidents, genetics, and environment.  Duckworth helped me to crystalize my life's mission and I am                                 looking forward to learning more from her book.

And while this involves getting my papers in order and taking care of the legal and end of life issues, it also means keeping myself healthy by eating and exercising as best as I can.  I have wondered what motivates me to get to a class at the gym, to read about nutrition, to try new recipes, to cook instead of making reservations, to read books, to start a blog.  All of these interests and actions will lead me to my primary goal…dying from old age rather than from disease.  And at the same time, living the best life I can.

For the past 9 years I have been a dragon boater in the spring and summer.  And in the winter, I continue to exercise so that I will not be a basket case when I get in the boat in the spring.  Being a dragon boater allowed me to use the adjective, "athlete", to describe myself.   Even in high school, gym was my least favorite subject.  I was never on a team.   Growing up, my favorite activity was lying on the floor watching a small black and white TV.  “Naomi” and “athletic” were never used in the same sentence.  Fast forward 60 years and I became an athlete.   Entering my 70s, it became even more important to be as healthy as possible.  As I learn more about what is in our food and as I listen to my body about what foods and exercises make me feel strong and healthy, I am hopeful I can continue to make good decisions. 

In other words, I want to reach my goal of dying of old age while not being a burden to my family.  And my smaller goals of eating right, exercising, socializing, and learning will help me achieve this.

What are your goals?  Are career and personal goals in line?  Send me an email or comment below in the web version of this entry.

Natural Burials

One of my daughters sent me a story entitled, “A Different Way to Die: the Story of a Natural Burial.”  It was originally published on Grist.  Though I had heard of this, I did not know much about it.

The story was about a man in Washington State who decided he wanted to have a natural burial.  He loved nature and lived on 6 acres of mostly wild land.  Traditional burial involves embalming – the use of chemicals- and a wooden or metal casket which is then placed into a plastic lined concrete vault and then buried in the ground.  Jewish burials do not use embalming methods.  Another option is cremation.  Although steps are taken to reduce air pollution, soot, carbon monoxide and trace minerals are released into the air.

He and his family chose a natural burial:  one in which he would be wrapped in a shroud (fabric) and placed in the ground.  While this seems simple enough, the process can be complicated.  The family had to find a cemetery that specializes in green/natural burials.  The cemetery director told the family that since the gentleman wanted to die at home, the family would have to contact a doctor to sign a death certificate and then take it to the medical examiner.  They would also have to get dry ice to keep the body cool until such time as they could take the body to the cemetery. 

If this interests you, look up GreenBurialCouncil.org for a list of cemeteries that can accommodate green burials.  In many states it is illegal to bury a body anywhere except in a cemetery.  In some states it is required that a funeral director must be hired to facilitate the paperwork and burial.

Bottom line—talk with your family about what you want; preplan; prepay; do whatever is necessary to insure that your wishes will be carried out. 

What thoughts do my readers have about this post?  Please share…..