When people think of digital assets, they often think of digital photos and videos. While such things have sentimental value, other types of digital assets, such as cryptocurrency, social media accounts, or online business accounts, can have real, monetary value. Both types of digital assets need to be protected, and the only way to do this is to incorporate them into your estate plan. The following are three steps you can take to protect your valuable digital assets as part of your estate plan.
1. Inventory your digital assets.
Make a list of every online account you use. This list can be a critical resource for your attorney or trusted decision makers when it is time for someone to step in and manage your affairs.
2. Designate a cyber successor.
A cyber successor is someone you trust who can access your online accounts and digital business on your behalf after you are gone or in the event you are unable to manage your affairs (also known as being incapacitated). You may need multiple tools to ensure that this person has the authority to manage your digital assets during your life and after your death.
3. Meet with an estate planning attorney.
During this meeting, we will help you determine the necessary tools to properly protect your digital assets, record your wishes in a legally enforceable manner, and ensure that your legacy continues as you want it to.
3 Steps to Protect Your Digital Assets
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