Should You Include Digital Assets In Your Estate Plan?
A majority of Americans use social media and online accounts every day. Social media and online access to your accounts have become an essential part of life for many people in Las Vegas, but what happens to these accounts after you pass away?
This is something most people don’t think about, even though they probably should. Did you know you can include digital assets in your estate plan? More people are adding a “digital asset” section to their estate plan to address what will happen to their online accounts.
A “digital asset” section in your estate plan can address what you want to happen to your social media accounts as well as provide information for your family on how to access your photos and other information stored on social media accounts.
Even if you don’t use social media, it can still be very helpful to include information on how to access your online accounts in your estate plan. Your estate plan can also address your other online accounts like how to access your retirement and other financial accounts. This can be very helpful for your family because each account typically requires a username and password that can be almost impossible for your loved ones to guess when trying to access your account.
Creating an estate plan can seem like a complex process, but it is important to consider what will happen to your online accounts to make sure your family knows your wishes before it’s too late. Some questions to think about include do you want people to view your Facebook page after you have passed away? What information do people need to know to access your online accounts? Answering these questions now can make life a lot easier for your loved ones after you are gone so you should consider including a digital assets section in your estate plan.
Source: ABC 7, “Digital assets becoming part of estate planning,” Jason Knowles, March 14, 2014