When you think about estate planning, what comes to mind? Typically people think of passing on their most valuable assets to the people they love. This could be a home, your money, family heirlooms…but what about your digital assets? Have you planned for what will happen to them when you pass away?
What Are Digital Assets?
Digital assets are becoming an important part of estate planning. Most of us use online accounts or cell phone apps daily. Here are some examples of digital accounts you might have:
- PayPal account
- Amazon account
- Netflix subscription
- Banking apps
- Cloud Storage
All this information should be taken into consideration in your estate planning. Should something happen to you, you want to make sure the correct people can access, manage, or close your accounts.
Including Digital Assets in Your Estate Plan
- List your digital assets and how to access each one – accounts, passwords.
- Decide how these assets should be handled. Do they have monetary value? You may want some assets handled differently than others.
- Name a digital executor – this can be the same executor named for everything else, or separate.
- Store the information in a secure location.
Discuss Your Estate with Your Lawyer
Working with an estate planning attorney ensures you do not miss details such as important digital assets. We can customize your plan to make sure it works for you. Call us today: 912-352-3999