Estate planning in a digital world

The internet plays a huge role in your everyday life. You can bank, shop and access reward points online. But how do your online assets fit into your estate plan?

What if you want to leave Bitcoin, airline rewards or a half-typed novel to a loved one? These are all potentially valuable possessions. Despite the growing popularity of online assets, few platforms provide customers with tools that would allow them to distribute their property after they pass away.

Therefore, the people you wish to leave these belongings to need access to your computer, accounts and online assets. In order to grant them permission, your estate must note how you want these possessions distributed. Your family may not be able to receive your assets if you don’t have it in writing – even if you shared the passwords with them.

Here are three easy steps for you to begin the process of protecting your digital belongings:

  1. Create and safely store a list of your online assets. You could use an online management software or an app to do this. It’s also smart to keep a copy of the list on a USB drive. Keep this in a safe and secure place.
  2. Develop a plan of how you want your assets distributed. You should think about who you want each asset to go to. Then, carefully document it with as much detail as possible, so there’s no confusion.
  3. Contact an attorney who specializes in estate planning. An attorney can help you with this process and ensure you don’t miss any important steps along the way.

Estate planning can be complicated, and there’s a lot that goes into it. Don’t forget about your digital assets as you work your way through the process. They could be more valuable than you might think.

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