29 Oct Cyber Security Awareness Month: How to Protect Your Estate from Scammers

Are your assets safe from identity theft? Do you know how to recognize an estate planning scam?

October is National Cyber Security Awareness month, so before the month ends, we’d like to remind you to make sure your accounts are protected. 

Far too many people have fallen victim to thieves and scam artists who bankrupt their accounts or steal the deeds to their property. Crimes like credit card fraud and identity theft are becoming more and more common, so it’s important to protect yourself. Here are some steps you can take to secure your assets and avoid getting scammed.

Cyber Security: How to Keep Your Estate Safe 

Step 1: Protecting Your Passwords

If you’ve ever had someone hack your Facebook page or gotten a notice that one of your passwords was included in a data breach, you know how vulnerable your online accounts can be. Wherever it is available, turn on multi-factor authentication. This way, if your passwords ever become compromised, you’ll have an extra level of protection that prevents access to your accounts.

Another step you can take is to set up a digital vault. If you’ve been storing a list of passwords in your email or in Google docs, they could be vulnerable. Moving them to a digital vault will add an extra layer of encryption and security.

Always wipe old devices like phones or computers when you upgrade. Many case  ty theft happen because personal data was gleaned from an obsolete hard drive. Before you discard a device that was used to store personal information, be sure to restore it to factory settings. 

Step 2: Monitoring Your Credit Report

Make a point of regularly checking your credit report for unexpected changes. Things like hard inquiries or fluctuations in your credit score often indicate fraudulent activity. If you notice anything unusual, report the security breach at identitytheft.gov and take the appropriate steps to secure your accounts.

Credit monitoring companies like Experian also offer features like identity protection services and ID theft insurance. You can also sign up for a title alert service to avoid title fraud scams. If you own property in the Phoenix area, you can register with the Maricopa Title Alert to get instant notifications.

Step 3: Recognizing Red Flags

Never trust anyone who asks for personal information over the phone, even if they seem legitimate. Scammers might pretend to be from your bank or your wireless carrier, and ask you to “confirm” sensitive information like your address, date of birth, social security number, or password. Don’t fall for it! End the call and then contact your bank or service provider to report the incident.

Estate planning scams and inheritance tax scams are also quite common. Remember, a legitimate firm would never ask you to disclose personal information over the phone or online. Beware of things like living trust mills and DIY templates, and consult a verified estate planning attorney instead. 

Trusted Estate Planning Lawyers in Arizona

Estate planning involves a lot of personal and financial information, so it’s important to choose an established firm with a good reputation. Phelps LaClair is a multi-generational family business, and we have been assisting Arizona families with their estate planning needs for over 40 years. We always meet with our clients in person, and with seven locations around the Phoenix area, we’re sure to have an office near you. Contact us to schedule a free consultation today.

Photo by Dan Nelson on Unsplash used with permission under the Creative Commons License for Commercial Use 10/29/24.