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Month: September 2016

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Social Security Website Security

Bigstock-Senior-couple-standing-togethe-12052331[1]In response to numerous complaints the Social Security Administration is temporarily rolling back a new security measure on its website.

Entering a username and a password on a website is no longer considered an adequate measure to protect people from identity theft. The login information is stored in databases that can and sometimes are hacked and sold to thieves.

Since many people commonly use the same login information for multiple websites, a hack of one website also allows thieves to access many more websites. This has created problems for financial institutions that seek to protect their customers’ accounts. The response has been to add extra layers of security requirements to access the accounts.

The Social Security Administration recently did so, but after less than a month it is temporarily suspending the new requirement as ABC News reports in “Social Security Rolls Back Security Measures on Website.”

The requirement Social Security chose is a common one for many banks and other financial institutions. In addition to entering a username and password, website users are also required to enter a one-time code to access their accounts. The codes are sent to users via a text message on a phone previously verified to be the account holder’s. The codes normally expire after a short time.

While this has proven to be a good security measure, it is easy to see how it might not work well for everyone who wants to access their Social Security account online. People who do not have cell phones or who have trouble reading text messages would obviously have difficulty.

Social Security website users who still wish to have the extra layer of security may opt-in to the option for now. No announcement has been made if the requirement will come back in the future or if the Social Security Administration will try a different security option.

Reference: ABC News (Aug. 23, 2016) “Social Security Rolls Back Security Measures on Website.”

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You Can Plan for the Unexpected

Bigstock-Elder-Couple-With-Bills-3557267[1]Estate planning is one of the few things that you can do to legitimately plan ahead for the unexpected.

In most walks of life it is almost impossible to plan for the unexpected. Even when you can, it is often a waste of time. No offense to Doomsday preppers, for example, but it is almost impossible and most likely a waste of time to plan for the zombie apocalypse. The chances of such an event happening in our lifetime are exceedingly slim and we do not really know everything we would need to survive such a thing.

Even in business it is often difficult to plan for the unexpected. If a business person does not expect something to happen, it is a waste of resources to plan for it. It is usually better to spend those resources growing the business.

However, as WXOW points out in “Planning ahead for the unexpected with a will,” estate planning is different.

With estate planning we can plan for the unexpected and it will never be a complete waste of time. Most of us do not expect to die anytime soon, but we all know that we will die someday.

If you get an estate plan now, you have not wasted your time even if you do not pass away for decades. At some point the estate plan will be used.

By estate planning long before you expect to need it, you hedge your bets just in case something unexpected does happen tomorrow, but you also plan for the inevitable.

Getting an estate plan does not have to be a difficult process.

If you hire a qualified estate planning attorney, then the attorney will do most of the heavy lifting. You can get an estate plan that will be good should you need it next week or sometime later this century.  Get a head start with Profit Law Firm, a law office that focuses on estate planning.

Reference: WXOW (Aug. 5, 2016) “Planning ahead for the unexpected with a will “

 

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Choosing an Estate Planning Attorney

Bigstock-Financial-consultant-presents--14508974[1]There are many attorneys who can prepare an estate plan for you, but if you want the best possible plan for your family, then you need to know how to choose the best attorney for you.

As is the case with any other profession, not all attorneys are the same. Attorneys all have different qualifications and specialties. Many attorneys will be more than happy to create an estate plan for you, but that does not mean the quality of the estate plan will be the same.

Just as some doctors are better at performing brain surgery than others, some attorneys are better at estate planning.

The Times Herald recently posted a list of questions to ask attorneys about estate planning that can help you decide which attorney to pick in “Six questions you should ask your estate planning attorney.”

The questions include:

  • Ask how much of the attorney’s practice is estate planning. This will tell you if the attorney is a specialist or just someone who does estate planning occasionally.
  • Ask whether the attorney offers comprehensive estate planning or whether an attorney just focuses on a few areas in the field.
  • Ask the attorney whether they focus on trying to reduce costs or whether their practice is to make money when the estate goes through probate. Sometimes attorneys that seem cheaper upfront are actually looking to make more through probate.
  • Ask whether the attorney can help you title and transfer your assets to a trust or whether you will have to seek out another professional to do that.
  • Ask how many hours of continuing education on estate planning the attorney takes. The longer the hours, the more up to date on the law the attorney is likely to be.
  • Ask the attorney how much you will need to do to make sure the attorney has all the information necessary to create your estate plan. The more information that is provided by you, the more likely you are to get the best estate plan.

When in doubt, ask around and research attorneys online. Check third party attorney directories like Avvo.com and Lawyers.com.

Reference: Times Herald (Aug. 6, 2016) “Six questions you should ask your estate planning attorney.”