Estate Planning for Digital Assets

As we become increasing dependent on digital assets to access banking and investment accounts, store personal, photographs and “communicate” via Facebook, Twitter and other online Media, it becomes important to consider our “digital assets” in our estate plans.

Your Will will generally indicate which of your heirs are to receive certain items of personal property. Your digital assets, i.e., email, online bank and investment account records, social media, electronic files and digital media (documents and photos), are less tangible and often overlooked.

A number of companies have begun to help individuals plan for the disposition of digital assets. Consumer Action, a non-profit educational organization, published a digital Estate Planning Guide (2015) that surveyed twenty (20) digital estate planning services. The survey reviews account features, post mortem (after death) procedures, security features and cost. The guide is available at http://www.consumer-action.org/downloads/English/Digital Estate Planning Guide.pdf.
June 23, 2015