Estate Planning with Digital Assets

With today’s online and social media age, have you ever considered what would happen to your Facebook, Twitter or other online profiles and accounts if you died or became incapacitated? Who would be able to access your bank accounts? Would your probate Executor or Power of Attorney Agent be granted authority to access your online information?

Digital assets can consist of the following:

The topic of digital assets has become a subject for increasing debate and importance over the past several years. The laws tend to lag behind technology and the situation is further complicated because service providers have their own terms of service and policies which are not necessarily uniform in the industry. This creates a dilemma for all of us who have online accounts and identities. Until the laws catch up with technology, here are two things you can do to safeguard your digital assets:

1. Make a comprehensive inventory of your digital assets and accounts, passwords, usernames, identifying information, security questions and other pertinent information. Update your list periodically and protect the privacy and security of the list.
2. Mention your digital assets to your Estate Planning Attorney. Include digital asset powers in your estate planning documents (such as your Will and Power of Attorney) to address who can access and control your digital assets upon your death or incapacity.

Reference:
https://www.kiplinger.com

To speak with an attorney about estate planning, please contact Stephanie Mudgett Boates 281-584-0034.

Stephanie Mudgett Boates, P.C., represents clients in the cities of Houston, Memorial, Bellaire, Katy, Sugar Land, Richmond, Rosenberg, Cypress, Spring, Conroe, Tomball and Galveston and in the following counties: Harris County, Fort Bend County, Montgomery County, Brazoria County, Galveston County and Waller County.