In today’s world, asset owners generally have rather robust digital lives. For this reason, it is critical that they integrate their digital lives into the estate plans they create for themselves. Here is a rundown on how people can incorporate their digital assets into estate planning documents in Florida.
Examples of digital assets include online services or accounts that require user names and passwords to get into. For instance, a social media account, email account or online subscription is a digital asset. Other types of digital assets range from computer files to smartphone apps and even digitized medical records.
As part of an estate plan that includes digital assets, an individual should ideally include the details necessary to access certain items or accounts. These details may include a personal ID or password, for example. They may also include the answers to security questions associated with specific accounts. Then, this individual can decide who will gain access to these assets and how they are to be dealt with after he or she dies.
People in Florida often put estate planning on the back burner, as they prefer not to discuss the possibility of death. However, death can strike at any time, so it only makes sense to have an estate plan in place and to include any and all digital assets in it. An attorney can provide the guidance needed to complete this process efficiently and effectively, making sure that the client’s wishes and best interests are protected each step of the way.