According to a 2011 McAfee study, Americans value the digital assets they own across multiple digital devices at nearly $55,000. Unfortunately, a vast majority of us have not planned for what happens to these assets after we’re gone.
Estate planning for digital assets is growing as fast as technology, and involves issues of security, privacy and legacy planning. For planning purposes, digital assets can include:
Practical issues that should be considered when planning for the disposition of digital assets include:
There are two steps you should take to protect your digital assets, with the guidance of a Personal Family Lawyer®:
Inventory digital assets. Make a list of all your accounts and assets, including user names and passwords, answers to security questions and any other necessary information that will allow your executor or fiduciary to access the information.
Include digital assets in estate plan. Include enabling provisions in your estate plan that covers the management and disposition of your digital assets.
If you would like to have a talk about protecting your digital assets through estate planning, contact a Personal Family Lawyer® today to schedule a time for us to sit down and talk.