In today’s day and age, identity theft is all too common a problem. In fact, the news is often filled with horror stories related to identity theft. Identity theft is a serious problem that can wreak havoc on your life, and it can also have a significant impact on your estate plan. The following information can help you start to understand the potential effects of identity theft on your estate plan.
Access to Private Information
Wills, powers of attorney, healthcare proxies, and other estate planning documents contain very personal information. Not only do some documents have your social security number, but they could also contain other sensitive financial information, too. It is extremely important to safeguard these documents to prevent such information from slipping into the wrong hands. For instance, if someone were to gain access to this type of personal information they could potentially open up credit cards in the name of the deceased individual or even file a final tax return in their name before heirs have a chance to do so.