There are many benefits to planning for the future, including assurance that your interests are secure, peace of mind regarding your medical care and knowing that your heirs will receive your estate as directed. However, estate planning is not always a straightforward process, and it is easy to overlook important details. You would be wise not to overlook the importance of including your digital assets in your estate.
Even if you do not realize it, you probably have digital assets you will need to address as you are creating your estate plan. Failure to account for these things in your plan could result in complications for your loved ones. It may be helpful to evaluate your estate to determine what your digital assets include and how you can protect your interests long-term.
Take an up-to-date inventory
In order to create an estate plan that truly reflects your needs and objectives, you will benefit from taking a complete inventory of your estate. An evaluation of your digital life and footprint can provide you with insight regarding the protections that will be most important and helpful. Some of the digital assets that may be easy to overlook when creating an estate plan include the following:
- Online banking accounts
- Social media profiles
- Email accounts
- Credit card accounts
- Monetized video streaming channels
- Photo and video sharing accounts
- Websites or blogs
- Subscription services
- Contact lists and business accounts
- Domain names
- Cryptocurrency accounts
- Smartphone data
By including instructions for these things in your estate plan, your loved ones will know how they should handle your property and what to do with your digital estate as well. As part of the details and terms you leave in your plan, it is prudent to also include clear instructions for accessing these assets, including login information and more. This can help your loved ones protect your memories, as well as your privacy.
Facing the future with confidence
It is important for every Florida adult to have a complete estate plan, regardless of age, income level or the size of the estate. An assessment of your estate, including both physical and digital assets, and an evaluation of your goals can help you understand what steps you need to take in order to achieve your goal of securing your interests and facing the future with confidence.