One of the most complex and overwhelming aspects of planning for the future is considering what will happen to all of your property and assets after you pass. You know that it is important to outline how you wish for others to distribute your property after you pass, but you may not consider your intangible assets to be a critical issue to address in your plan. In many cases, it is just as important to include your digital assets in your plan as it is to consider your physical assets.
You likely have more digital assets than you assume. Most people have an online presence, and at minimum, you might have profiles and accounts that someone will need to manage after your passing. If you are unsure of how many digital assets you have and how others should address them in your comprehensive estate plan, you may benefit from seeking professional insight regarding your long-term planning needs.
What counts as a digital asset?
There are many different things that you own or possess that could be a digital asset you should include in your estate plan. As you consider what things you might need to address, you may benefit from considering your entire digital footprint, including the things that bring value to your life or things that may hold a monetary value, even if they are not physical. While every situation is different, digital assets you possess may include:
- Subscription services
- Social medial profiles and accounts
- Contact lists
- Email accounts
- Domain names
- Branding assets
- Cryptocurrency
- Audio files or graphic files
It is important to specifically address these things and other types of digital assets in your estate plan. In addition to this, you will also need to include details regarding how to access your digital assets. These accounts are often password-protected, and the person managing or receiving these assets will need to be able to access them and use them as instructed.
A complete estate plan
You will benefit from having a complete and thorough estate plan in place. It is not always easy to know exactly which assets you should include in your plan, and you may benefit from seeking experienced guidance regarding the most beneficial way to develop a strategy that will provide you and your Florida loved ones with the necessary amount of protection and clarity needed to face the future with confidence.
