If you are planning for your estate, you are likely creating a will, various trusts, a power of attorney, and so on. But, have you considering creating your digital estate plan? In today’s day and age, so many of our assets are digital. This can be anything from bank accounts to photographs saved on your computer. These assets may be equally important to your more tangible assets. As a result, it is important to plan for them accordingly. Read on to learn more about creating a digital estate plan in California. e
What is a Digital Asset?
Simply put, a digital asset is any type of online record that a person owns.
What Should be Included in my Digital Estate?
Not many people are aware of what a digital estate is, so you may be wondering what to include in it. Your digital estate may include:
- Financial accounts: This can include bank accounts, brokerage accounts, stock portfolios, etc. All online financial accounts should be included within an estate plan.
- Online rewards programs: Some companies provide their goods and services online with different rewards programs for customers. These can become valuable overtime, which is why some people may wish to include it in their estate plan.
- Electronic communications: On average, a person has at least five social media accounts that are regularly in use. While these usually do not hold any monetary value, they can be important to include in an estate plan so they are administered properly.
- Digital collections: This can include any photographs, videos, music files, etc. These tend to carry significant sentimental value, which is worth putting in an estate plan.
Protecting Your Digital Estate
When including these assets within your estate plan, be sure to include their corresponding access information. This can include a username, password, secret questions, etc. In addition to this, be sure to designate how you want these assets to be handled and distributed so that your appointed executor (the person who handles the administration of your estate plan) will know how to act accordingly.
If you have any questions or concerns regarding digital estate planning, contact our firm today to speak with an experienced attorney.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.