How to protect your online accounts and digital assets after death.
One of the most common trends in Florida estate planning is the preparation of, and planning for, the protection and administration of digital assets.
For example, imagine that you converted all of your family photos and videos from the last 25 years to electronic computer files. Perhaps they are stored on your computer or on a“cloud” account. Even more importantly, maybe you no longer have any of the original images or videos. It is entirely possible that your family and loved ones will not be able to access these photos and videos without great delay and expense, if at all. This is only one of the many assets that take the digital form. For this reason, digital asset protection should be an essential part of your Florida estate planning.
Examples of digital assets can include:
- Electronically stored files on computers, laptops, tablets, smart phones, back-up drives, the cloud, and similar devices that may contain sensitive documents and important information.
- Online access to your bank accounts for matters such as checking account balances, paying bills, receipt of monthly disbursements, such as Social Security and pensions, or verifyingwire transfers and similar items.
- Online access to your brokerage and financial assets for determining values and amounts,downloading statements and tax information, making trades, and verifying receipts.
- Your email accounts, including inbox, outbox, and organized folders.
The importance of accounting for your “digital estate” in Florida in significant. Though the trend is proving slow to catch on, West Palm Beach probate litigation attorneys and Florida estate planners are beginning to see it more and more frequently. People are beginning to appoint digital executors of an estate in addition to a typical executor of the will. One crucial tip to remember, though, is that your digital executor needs to be both trustworthy and tech savvy, at least enough to be able to follow through with your instructions.
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