In the 21st century digital assets should be included in your Gilbert estate planning process but are often overlooked. A study found that over 60% of people did not know what would happen to their digital assets after they die, as many people don’t think of their online accounts or digital media as assets. Your digital assets can include a wide range of digital information such as music, movies and photographs, online accounts for services like Netflix, Amazon, social media accounts, email accounts, and more.
Digital estate planning is the specific plan for how your digital assets should be managed after your death. Digital estate planning should always be included in your Gilbert estate planning process if you have digital assets. To incorporate digital assets in your Gilbert estate planning process, you will need to have specific instructions on what to do with your digital assets after your death in your digital estate plan.
A simple digital estate plan for Gilbert estate planning would include account login information, details on what to do with each account and how to distribute digital assets, and information on who documents should be transferred to. For eBay store owners or owners of a digital business, their digital estate plan will be more complicated. They will need to incorporate details on business ownership with their Gilbert estate planning as well as details about their digital assets.
During your digital Gilbert estate planning process you should make a list of your digital assets including any websites and domains your own, logins for online services, email accounts, online banking account information, Paypal accounts or digital payment accounts, photo sharing services, social media account information and more. You should have at least two backup copies of your digital assets on an external hard drive, and be sure create new backups on a regular basis.
Many professionals store their work on computers and the ownership of this work and any other intellectual property should be included in their digital Gilbert estate planning process. It is important to keep your digital assets organized so that they can be distributed and accessed as needed for Gilbert estate planning purposes. A digital executor will also need to be named during the Gilbert estate planning process, and the digital assets will need to be stored in a safe location.
Need Help?
If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.
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