Estate Planning News

Many Americans Don't Know About Safeguarding Money, Identity

Despite 95 percent of Americans having heard or read about identity theft, a new survey reveals that many are unaware of the security benefits of direct deposit over paper checks - and that could place them at greater risk for identity theft and fraud.

The survey, sponsored by the United States Department of the Treasury and Federal Reserve Banks, is the latest public service initiative of the Go Direct campaign. Go Direct aims to motivate more Americans who receive Social Security or other federal benefits to switch to the safer, easier and more convenient option of direct deposit.

- 62 percent said that a paper check with your name on it can only be cashed if you sign or endorse it.

- Nearly half of those polled said direct deposit of payments like wages, salary or government benefits go through the Internet to be deposited into your account

- Nearly 40 percent of respondents said this statement is false -- "No direct deposit has ever been lost or stolen."

Contact our Plano estate planning attorney now.

	Did You Know?
	A Will, is sometimes called a "Last Will and Testament" Used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it. A Will also typically names someone you select to be your Personal Representative (or "Executor") to carry out your instructions and names a Guardian if you have minor children. A Will only becomes effective upon your death, and after it is admitted to probate.