stajer - 5:12 pm on Dec 27, 2005 (gmt 0)

Your business may change too rapidly to keep a log of the current business information. Consider "Key Man" business insurance - insurance specifically designed to cover the cost of replacing a key person in a company in the event of disability or death.

A $1000 annual premium can provide $250k and up of money to hire a PROFESSIONAL person/company to figure out passwords, access accounts and manage the business on your death. You take out the insurance and pre-select the company/person.

Two main advantages:

1. The value of your business is protected while your relatives deal with your funeral arrangements.
2. Even with your passwords/account info, do your relatives have the expertise to run your business?