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Digital assets important part of estate plan

On Behalf of | Sep 29, 2020 | Estate Planning |

Many Staten Island residents have taken the time to create their estate plan. They understand that having this plan in place can help ensure a person’s assets are distributed as a person intends. But even those who have an estate plan in place may need to revisit it to make sure their digital assets are included.

Estate planning is always changing. There is always something new that can affect a person’s estate plan and in recent years it is digital assets. Almost everyone has some kind of digital presence that they may wan to protect.

Determining meaningful digital assets

The easiest way for a person to determine whether a digital asset is worth protecting is if it has a password attached to it. These can include pictures, digital money, social media accounts, music accounts, etc.

Making list of digital assets

A person should make a list of their digital assets and determine which ones should be deleted or which an executor should access. Passwords for these accounts should be kept in a safe place such as password management software.

Backing up digital assets

A person may also want to back up digital assets into a cloud system. Electronically scanned digital documents should be backed up. These may include bank account statements, birth certificates, insurance policies, passwords, etc.

Legal documents remain important

An attorney who specializes in estate planning can help their client update their wills, trusts, and other estate planning documents to include digital assets. An attorney understands the current law regarding these assets and can make sure their client’s digital assets are covered.




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