As you embark on the estate planning process, you are likely conscious of physical assets you want to include in your will, trusts, and other estate planning vehicles. But you may not take into account your digital assets and what will happen to them.
At Bennett Guthrie PLLC, we want you to know that in addition to your physical property, coming up with a plan for your digital assets should be part of the estate planning process. Your digital assets can include things like email accounts, subscription services, social media accounts, contact lists, utility accounts, online banking accounts, websites or blogs you maintain, online marketplace stores, domain names, cryptocurrency keys, and more.
Before you start, compile an inventory of any digital assets you own. Be as thorough as possible and update this list as you think of more to add. Many of these assets may be password-protected, and there may be additional restrictions because of terms-of-service agreements.
When you account for your digital assets in your estate plan, it is essential that you leave specific instructions regarding who can access them and how. Our legal team can help you outline your wishes, name a separate executor for your digital assets, and provide recommendations on safe storage solutions.
In addition to your digital assets, we can also help you with the estate planning process for your physical assets. To set up a consultation or to learn more about how our law firm can help with your estate plan, contact us today.