After a loss

The phone plan: don't close it too soon

One phone number can unlock dozens of accounts.

It's natural to want to cancel a phone plan quickly. But for many people, their phone number is the key to their accounts. Banks, email and apps text a code to that number before they'll let anyone in.

If the line is shut off, those codes stop arriving, and getting into accounts can turn into weeks of calls and paperwork.

What many families do instead

1. Many families keep the line active for at least 3 to 6 months, or until the accounts are closed or transferred.
2. It helps to keep the phone charged and somewhere safe, along with its passcode.
3. If the phone is on a family plan, the account holder can usually keep it running. Policies vary by carrier, so it's worth a call.
4. If you'd like to keep the number for good, most carriers can transfer it into your name.

What to write in your binder

• Which carrier the phone is with
• Whose name the account is in
• The account PIN or passcode, if there is one