Best practices for family succession planning
I got terrific help from you all many years ago when I put together our family strategy for passing on our data to our daughter in the event of our death/disability.
Now we're on a family plan, and I have discovered that we need to make an adjustment to our strategy. I've read through lots of info on the discussions, but I want to make sure I'm not missing anything.
Here's our situation:
- Two parents and our daughter on the Family Plan.
- Each parent has a vault that is shared with the other, virtually no use of Private vaults.
- We have one common vault that can be accessed by all three of us.
Our daughter has my email and the first half of my "master password", and another family member has the other half of the password. In the event of our demise, the other family member is instructed to reveal the second half of the password to our daughter. This works well for us, so we don't need any advice there. We would also like to make this as easy for her as possible, i.e., no traveling to our home, bank, etc. to get access.
Since we migrated from the installed versions of 1Password, it looks like she will need something additional, either my secret key or a device that has previously accessed my 1Password account. I also considered making her a family organizer, but I don't think that gives her what she needs.
What do you recommend in our case? If we want to share my secret key with our daughter, is there any reason not to put my emergency kit in the vault that the three of us share?
Thanks in advance for your help.
Joan
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Comments
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Oops, sorry. I forgot to mention that I would put the emergency kit WITHOUT MY PASSWORD in the shared vault.
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My Emergency Kit is in a shared vault for my adult sons. So I am right there with you.
Taking my employee hat off for a moment, I would consider sharing that 2nd half with an attorney or other party for safekeeping. Sometimes, relatives fall apart, and I'd hate for her to be in a situation where she knows the data is available but cannot access it due to family dynamics. This comes from watching my mother's side of the family descend into something not resembling a family many years ago.
Employee hat back on. Provided she has the Emergency Kit (w/ Secret Key) and knows your password and the email associated with the account, she'll be good to access the account when the time comes.
Life comes at you hard. The wife and I had made plans, and we anticipated she would need my details. Turns out it was me with the tables reversed. Stay vigilant. Stay prepared.
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@ag_tommy, thanks so much for your response. I'm glad to know that we're on track putting the Emergency Kit in the shared vault.
And thanks for your advice about the split password. We, too, have seen surprising behavior from family members when it comes to deaths and inheritance. We'll definitely look at how best to implement a backup plan (most likely our attorney) for our daughter to get the password. In even the most innocuous case, one of the trusted half-password holders could forget their half of the password.
I'm sorry to hear that you have needed to execute part of your plan, the part in which you needed your wife's details.
As for constant vigilance, we have a ton of information that will be passed to our daughter someday via 1Password. We really appreciate having a safe place to store that information and a plan for passing it to her. Thanks for that!
Joan
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Sounds like you have a solid plan. All my best to you. Let us know if you have any other questions. We'll do our best to help.
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