You may have experienced this. You are checking-in on Facebook when you spot a brand new post from a person that makes you wonder… didn’t I attend their funeral last year? You decide to check it out, and yeah, they have passed on, but someone is still using their account. This is an example of a digital asset that might be subject to mismanagement.
Estate Planning for the Digital Age
There are laws which limit who can have access to a persons digital assets. What are some digital assets?
- Email accounts
- Online bank accounts
- Cloud-based photo sharing or storage accounts
- Personal and professional website or blogs
- Cloud-based document and client files (Dropbox, Evernote, etc.)
- Shopping or e-commerce accounts with stored credit card
It’s your files, emails, and personal information, stored on a digital device somewhere, like a mobile device, desktop computer, laptop, table, smart phone, online server or website. Don’t let your personal files get lost. Don’t let your money escheat to the state because your loved ones can not find it.
What do I do?
- Provide Access
- Leave Instructions
Digital asset management consists of identifying and taking inventory of digital assets, setting up a plan to provide access to those assets when it’s time, and leaving instructions. We do not want to know your private information concerning log-in information and passwords, so we provide a step-by-step guide to assist you, and provide templates and materials you can fill out on your own. If you do not have anything in writing, it’s time.
Merrill A. Hanson
Law Office of Merrill A. Hanson
180 N. Glendora Ave., Ste. 201
Glendora, CA 91741
Originally Published October 26, 2016
This page is not intended to convey legal advice. You should contact an attorney for your specific situation.