Considering digital accounts when drafting an estate plan

On Behalf of | Jun 19, 2019 | Blog, Estate Planning, Wills, Trusts & Probate, Firm News |

Taking the time to plan for the future is anything but easy. For some, it can be challenging to plan a trip or a weekend gathering; therefore, it can be especially difficult to sit down and draft an estate plan. Whether it is the idea of thinking about death or simply a task one is not interested in, it is important to understand just how important an estate plan is. And once a person is on board with this process, it is further important to explore how to address digital information in an estate plan.

With more and more of our daily activities being online, it comes as no surprise that we leave a huge digital footprint. We do our finances online, have social media accounts, complete our work online and even keep important information online and on our computers. Because so much is done online and on personal computers, it is important to consider how vital this information is when it comes to drafting an estate plan.

Common digital assets to consider including in your estate plan include email accounts, blogs, websites, social media accounts, digital photos and videos, music libraries, digital book collections, online shopping accounts, memberships and subscriptions, financial accounts and medical accounts. It is important to outline who and how these accounts will be accessed and what should be done with these assets.

Whether you are just starting the estate planning process or are seeking to update a current plan, one should fully explore all of their options. This means understanding what a will could contain and how best to put their wishes in written form. Additionally, individuals should understand how trusts, powers of attorney and other estate planning documents could benefit one, helping to ensure his or her wishes are met at the time of their death or incapacitation.