Secure Your Digital Legacy
In today’s world, we accumulate more than just physical assets—think about all the digital accounts and online assets you have, like bank accounts, investment portfolios, social media accounts, and even valuable digital currencies like Bitcoin. Without proper planning, your loved ones could face difficulties accessing or managing these assets when you’re gone.
Taking Stock of Your Digital Assets
From social media accounts and email addresses to digital currency and online subscriptions, it is essential to create a detailed inventory that includes login credentials and specific instructions for each digital asset. Regularly updating this inventory ensures that your digital assets are accounted for and can be easily managed by your beneficiaries.
I provide all clients with an Emergency Planning Toolkit where you can list all of your digital assets as well as login information to keep with a trusted person in case of your incapacity or death. There are also online solutions where you can store this information and your estate planning documents - ask me about those during your Peace of Mind Planning Session!
Understanding Digital Platform Policies
Every digital platform or service provider has its own rules for accessing digital assets after a user’s death. Understanding these terms of service can make it easier for your loved ones to access or transfer your online assets when the time comes.
Let’s say you have a significant amount of money in a PayPal account. After your passing, PayPal has specific rules in place for how your account can be accessed or closed. Without understanding these rules, your loved ones might face delays or even lose access to those funds entirely.
By familiarizing yourself with PayPal’s policies—such as providing authorized users or instructions on how to transfer ownership—you can make sure your family has a clear path to manage or access those funds quickly and without hassle.
Protect Your Digital Assets Today
Don't leave your digital assets vulnerable to uncertainty! Start by booking a Peace of Mind Planning Session with Attorney Candice McPhillips. This is a 1-hour Zoom meeting where we will review your questionnaire, answer your questions, discuss your options, and review my unique flat fee pricing. Then, if we decide we’re a good fit to work together, we’ll discuss next steps. And if not, that’s fine too! Book your Peace of Mind Planning Session HERE. Mention this blog and I’ll waive the $450 session fee!
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This article is not intended to provide legal advice or opinion and should not be relied on as such. Legal advice can only be provided to clients of McPhillips Law in response to a specific fact situation.
