With so much of your life likely spent online, it comes to reason that you probably have substantial digital assets that should be included in your estate plan. But it might not be easy to tell what’s a digital asset and what’s worthy of planning for.
A digital asset can be thought of as an online record that any person owns. This could include photos that you’ve uploaded, social media profiles, the content you’ve shared on a blog or even access to an online rewards program. Failing to protect your digital assets could have disastrous consequences, particularly if you have substantial non-digital assets or if you are a public figure.
Many professionals acquire multiple streams of revenue throughout their life and this can include brokerage accounts, stock portfolios, bank accounts, credit cards and more. Most of these are generally managed online, meaning if you don’t have a way to capture them and include them in your estate plan, they could be subject to being stolen. Schedule a consultation with an experienced estate planning lawyer today to discuss how you can protect your interests in the digital world.
Sit down today to start a master list of all your online accounts. Have you protected these in a master password program? You could provide access to these tools by leaving behind instructions for someone to get into all of your accounts after you pass away using one master password tool. You could even include a letter about what you want done with any materials, such as photos you’d like backed up, so that your estate administrator knows special wishes and handles this process the way you hope.
If you have a plan for your tangible assets but not for your digital ones, let’s work together to build a comprehensive plan that takes all these key issues into account. Our Pasadena law office works with you to help prepare you for all the aspects of your estate and elder law plan so that you know you’ve taken care of the important details. Schedule a phone call with our firm today to discuss.