03/05/2024
Betty, an 86-year-old widow, found herself thrust into the role of estate executor following the passing of her beloved husband Richard to cancer. Suffering immense loss and heartache, Betty encountered a series of challenges that compounded her grief and frustration. The most difficult hurdle was lack of access to online accounts which were always managed by her husband. Being unable to pay her bills was even more frustrating, especially when she lost power and her water was shut off for some time. “Being placed on hold felt like hours”, she said. “I think the feeling of hopelessness is the worst, especially when it’s your own home”.
Betty's story underscores how important it is to plan for yourself and your loved ones. The 2023 report on The Cost of Dying was recently released from Empathy.com. It states that on average executors spend over 18 months in order to complete all of the administrative tasks in order to wrap up their loved one’s affairs. It also costs the average American family over $12,616 on expenses related to their loved one’s death. Without a digital plan much of this time is spent in extreme frustration. If only Betty knew how to access and pay many of her utilities and online credit cards, she would have had a slightly easier time.
To help executors like Betty, families should engage in open and transparent communication about their financial affairs and ensure that important documents are organized and easily accessible. Creating a detailed inventory of accounts, passwords, and contact information can provide much-needed clarity and guidance to estate executors during a time of profound loss and upheaval. Dexit specializes in this detailed inventory, focusing on all accounts digital, from social media to their wireless phone bills.
