You have probably given some thought to what you will leave to your family members when you pass away. Most people think of their money, their property, and maybe some other things that have high sentimental or monetary value, but there is one more thing that most of us now have to plan for in our estates. We are talking about your digital assets, and if you are not sure where to start a Fayetteville, Arkansas wills lawyer can help you out.
What Can Be Considered Digital Assets?
Digital assets can be a broad category. It can include data and the actual hardware used to store it. It can also include data that is worth money and data that really does not have an appraised value. Some examples of digital assets include:
- Hard drives and flash drives
- Data stored in a cloud service
- Computers, tablets, and smartphones
- Online stores and domain names you own
- Personal photographs
- Accounts with e-mail services, social media websites, and other companies
Now you might be realizing that you actually have spent quite a bit of time online, creating quite the digital footprint. So that means that you should make a plan and manage what you have left behind.
How Should I Organize My Digital Assets?
There are a few things that you can do to make your digital estate easier to organize. We suggest that you:
Get rid of old online accounts: Most websites will allow you to delete your data completely and erase a defunct account.
Take stock of accounts you use: Now take the accounts you do use and write down their passwords, security questions, and anything else someone might need to log into them when you are gone. Also, make sure that all of these accounts have your current info.
Consolidate your data: If you have a few computers, hard drives, or other methods of storing data lying around, start to consolidate. If you have photos and documents to pass down, make sure that they are on one conveniently located drive. Then make a backup.
Update your power of attorney: If you have already given someone power of attorney, now you should update this provision of your will so that they also have access to digital assets.
Find a digital fiduciary: If the person with power of attorney is not the most tech-savvy, you can also decide to designate a “digital fiduciary.” They would be able to manage your digital assets, online accounts, and other important documents once you pass away or are otherwise unable to manage your own estate.
Contact an Experienced Attorney
Making an estate plan is important work. A lawyer can make sure that you do not miss anything and that you leave behind a clear and concise document for your loved ones. So schedule a consultation with the Knapp Law Firm and learn more about how we can assist you with all of your assets, including the digital ones.
