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Tips for addressing digital assets in your estate plan

On Behalf of | Jun 27, 2024 | Estate Planning |

In today’s increasingly digital world, estate planning is no longer just about dividing physical assets and property. Your online life, from social media accounts to cryptocurrency wallets, is a significant part of your legacy.

As you create or update your estate plan, it is important to consider how you want your digital assets handled after you are gone.

What are digital assets?

Digital assets include any online accounts, files or property that you own. This could include:

  • Email accounts
  • Social media profiles
  • Online bank and investment accounts
  • Cryptocurrency
  • Digital photos, videos, books and movie collections
  • Blogs or websites

If it exists online and has sentimental or monetary value, it is a digital asset in your estate.

Why include digital assets in your estate plan?

Including digital assets in your estate plan preserves your wishes and protects your online legacy. Without proper planning, your loved ones may not have access to important accounts or files, or your online presence may linger in a way you would not have wanted.

How do you protect your digital assets?

Protecting your assets in your estate plan starts with a comprehensive inventory. Make a list of your digital assets and how you access them, including any security questions or two-factor authentication. Then, decide what happens to each asset upon your death, whether you want the account closed or passed on to someone specific. Choose an executor or administrator to handle your digital assets, and make sure that your information stays secure and updated.

Your digital assets are part of every aspect of your life. Do not overlook their importance when you draft your estate plan.

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