Technology

People interested in estate planning are increasingly placing digital asset clauses in their estate planning documents. This unfortunately adds another layer of complexity to estate planning.

As focus in digital assets becomes more popular, the need for adequate estate planning also increases. People want to make sure that their financial planning prospers besides that person’s daily use of digital technology.

A large number of people interested in estate planning have even placed clauses addressing bitcoin as well as other cryptocurrencies into the estate plans of clients. Digital wallets go in combination with digital assets because passwords play a critical role in making sure that your loved ones are able to access your assets after you pass away or become incapacitated. Digital assets including social media, blogs, and email accounts are also playing an increasingly more prevalent role in estate plans.

While estate planning, it’s a good idea to make sure that various parties involved with your estate including personal representatives, agents appointed through a durable power of attorney, and trust receive the information they need to both access as well as manage your assets in case you end up incapacitated or pass away.

While most assets can be easily identified, one notable exception are digital assets, which include not just social media accounts and financial accounts but also cryptocurrencies like Bitcoin and non fungible tokens. This article reviews some critical issues to consider in regards to estate planning and digital assets.

# 1 – Email and Social Media Accounts

Articles Posted in Technology

Utilizing Estate Planning for the Digital Future

Situations Where Your Digital Assets Last Longer Than You