For most of us, these digital assets won’t have a large financial value. However, there may be a high financial cost in accessing the sentimental value if you do not plan for the transition.For that reason, it is wise to include digital assets in your estate plan. We can help you gather your information and include these provisions in your overall financial plan, and we will work with your attorney to make it a part of your legal documents.
To protect your privacy as well as your family’s ability to access your “digital shoebox”:1. Make a list of the digital accounts you own, and how you would like them to be handled after your death. State which ones should be accessed, and which should be terminated. 2. Use a password tool to store passwords for your online accounts and leave instructions for accessing the tool. Alternatively, you can write the passwords on paper and store it in a secure location that can be found by your executor, although this will require frequent updates. 3. Check the online providers that you use the most to see if they have an online tool to facilitate the transfer of these assets. Google and Facebook have begun to offer this.
Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax or legal advice. Please note that individual situations may vary. Therefore, this information should be relied upon when coordinated with individual professional advice.