As you write your will, you have no doubt accounted for any houses, cars, furniture, electronic equipment and other physical property. But have you made plans for how your digital assets? If not, your loved ones could lose untold valuables that they would otherwise cherish for the rest of their lives. But what are digital assets and how can you protect them? If you have asked yourself these questions, please read on, then contact an experienced Rockland County will attorney to keep your digital assets from neglect or deletion.
How do I know if you have digital assets?
If you spend any amount of time on the internet in its various forms, you will have knowingly or unknowingly acquired a wealth of digital assets. These intangible assets come in the following forms:
- Audio files
- Design files
- Domain names
- Electronic storefronts
- Social media accounts
- Financial records stored on your phone, computer or your cloud
Basically, anything that exists in a digital format, and that you own the rights to use, is a digital asset. If you do not know the rights, they are not considered assets.
How can you protect your digital assets after you have passed on?
To bequeath your digital property, you should start by making a list of all of your electronic assets and how to access each one. Then, in writing, you should decide what you want done with these assets. Next, name a digital executor. Lastly, store this information in a secure but accessible location. If possible, you should make it legally binding by reaching out to a skilled Rockland County wills, trusts and estates attorney.
Do you really need an estate planning attorney?
Strictly speaking, no, you do not need an estate planning attorney to pass down your digital property. However, by planning ahead, you can arrange for full access to your digital property, keep administration costs down and ensure that no valuable or significant digital item is lost. If you do not account for your electronic assets, they may pass through ever more distantly related people who will not properly cherish them. If the state can’t find anyone to give it to, it will take it for itself. Do not let the state of New York determine your digital legacy. Let a qualified legal professional handle the burden of protecting your assets. Give us a call today.
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.