Fact Sheet: Estate Planning For Digital Assets

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Estate planning for digital assets? As technology advances, the law must also advance. The two are inextricably tied together. Now that many, if not most, people have digital assets, they must be part of ones estate plan.

Digital assets are online photo sharing sites, email accounts, websites, and social media sites such as Facebook, Twitter, and You Tube accounts.

It is imperative that your trusted helpers have a master list of online usernames and passwords for digital assets so that accounts can be accessed if you become disabled or die.

Estate planning clients need to decide if they would like social media sites taken down at death, continue as is, or continue with a farewell message.

Facebook now offers an If I Die service wherein users can write a message or tape a video message to be posted after death. Its a way to say thank you and good bye to virtual friends. Its a love letter of sorts.

Love letters, photographs, videos, poems, and the like are the most cherished of all inheritances.

Also, have a master list of all financial online accounts such as bank accounts, investment accounts, utilities, and other online services. Include your account #, username, and password for each account. Your trusted helper will need to access your accounts to either manage or wind down your financial life.

Dont forget a list of emails, usernames, and passwords as well. You may have bills or other important messages coming into your accounts which your trusted helper should address.

Also, include information for photo sharing sites or any other virtual communities to which you belong.

The virtual world of digital assets is a new area in the field of estate planning. Youll be cutting edge if you take a few moments to consider how youd like your digital assets to be handled should you become disabled or when you die.

If you have any questions about estate planning for digital assets, consult with a qualified estate planning attorney.

About the Author:

To learn more about estate planning and protect you from the cost of long term care, please visit the website of the experienced estate planning attorneys Mobile AL of the Ryan Hicks Cumpton & Cumpton LLP today.



Article Originally Published On: http://www.articlesnatch.com


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