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What Should be in my Digital Estate Plan?

What Should be in my Digital Estate Plan?

Due to the Coronavirus outbreak, many people are looking to secure an estate plan so that the future of their assets and loved ones are protected.  This is important to have, especially in situations such as these, because no one can know what may happen tomorrow. In recent years, many people are turning to digital estate plans instead of paper documentation. When creating these types of estate plans, it is important to know what to include so that nothing is missing. In doing so, you can benefit from the assistance of a New York estate planning attorney.

What Should My Plan Include?

When making a digital estate plan, the first step is to take an inventory of all digital assets that you have. If you own a business, a separate list should be created for business assets. Things that should be included in both can consist of:

  • Computing hardware such as computers, hard drives, flash drives, tablets, smartphones, cameras, etc.
  • Any information stored electronically
  • Online accounts such as email, social media, photo sharing, shopping, storage, websites, blogs, etc.
  • Domain names
  • Intellectual properties

It is important to also leave instructions on how these assets can be accessed as well as and logins, passwords, and answers to security questions. In addition to this, the plan should detail how you want the assets to be managed on your behalf. For example, you may want certain assets to be saved, transferred, or deleted. These wishes can be carried out by an executor, someone you choose and trust.

Where Do I Store the Information?

When you have all the necessary information gathered in your digital estate plan, the final step is to protect it by putting it in a secure location. Depending on your personal desires, this may be with an attorney, an online storage service, or in a safe. Once you decide upon a location, be sure to inform your executor so that they know how it can be accessed when necessary.

Contact our Firm

The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.

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