Your Estate Plan and Digital Assets
The statistics are undeniable – we are spending more and more hours online. Sometimes it is just for fun and other times it is in connection with a business or hobby that brings in income. We create and update our Facebook and LinkedIn profiles. We tweet. We read and send email. We play games on Facebook and other platforms. We shop for items on eBay and Amazon and many other websites. We sell items on eBay. Many of us have a PayPal account. Others of us play online virtual games such as Second Life or World of Warcraft. We bank online, pay bills online, and generate income from online activities. And, for all of our online activity, we may have one or many different passwords to access our online accounts. Our personal digital footprint is large and ever expanding.
What happens to these digital accounts and assets when we die? Have you thought about what you want to happen to your Facebook page? How will the person responsible to administer your estate after your death be able to locate and secure your digital assets? How do you maintain your passwords? Do you have a PayPal Account? Does anyone know if you are selling goods on eBay? What if you have valuable virtual assets that can be converted into real dollars? Who in your family knows about all of your online activities that might have value to your heirs? What about your private information? Do you want someone to tweet using your account after your death? Is there something you want shut down and buttoned up? Most people and estate planning lawyers overlook these critical digital assets of the deceased.
Mableson Law is here to assist you regarding your DIGITAL ESTATE PLAN. We have tools and form to help you organize your digital estate and set it up so that upon your death, your personal representative can access your accounts and follow your instructions for how YOU want your digital footprint and accounts to be handled.
Mableson Law advises clients AND OTHER ESTATE PLANNING ATTORNEYS AND LAW FIRMS seeking to identify, secure, protect, and maintain digital assets upon the death of a client.
What are Digital Accounts & Assets? Digital Assets include:
- Email Accounts (How many do you have?);
- Social Media/Networking Accounts (Facebook, LinkedIn, Foursquare);
- Instant Messaging Accounts;
- Online Financial & Banking Accounts;
- Online Credit Card Statements;
- Online Bill Payments;
- Online Shopping Websites;
- Frequent Flyer Miles;
- File Back-up sites;
- Music & Videos Storage Sites (Flickr, Musiclockers);
- Cloud Computing Sites;
- Online Storage & Backup;
- Registered Domain Names;
- Owned WebSites;
- Blogging Sites;
- Online Gaming Accounts (WoW, EVE, etc.).
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