You may have already distributed your physical possessions and financial accounts to loved ones when planning your estate, but have you thought about your digital assets? These assets include your email accounts, reward points, saved photos on your phone and any other digital information you may own. Your designated executor may have some limited rights in Georgia to your digital assets without a specific inclusion, but may need to gain court permission and pay hefty compliance fees to access critical information. Here are three estate planning tips to protect your digital assets.
Create a Master List of Digital Assets
If you have numerous online accounts with different passwords, it may be impossible for the executor of your estate to gain access. You may want to create a master list of all your digital assets and any relevant information attached to each item as part of your estate planning. A password manager program installed on your digital devices can make things simpler for your executor by requiring only one main password. Be sure to list all the devices you own, as well as any cryptocurrency, intellectual property and websites you own that draw revenue.
Express Your Final Wishes with a Digital Assets Plan
How do you want the executor of your estate to handle your digital assets after your death? How should revenue from these items be distributed or used? Is there anyone else that you want to have access to or denied access to your online accounts? Make sure you express your final wishes in written form with a separate digital assets plan.
Store Your Plan in a Secure Location
After creating your estate planning documentation for your digital assets, ensure these are protected in a safe location. Make sure your executor and attorney are aware of the location if you store these items elsewhere. Keep your digital assets information separate from your will. This will help keep your information private in case your will needs to go through probate and you can update it quickly as needed.
Protect Your Digital Assets with Experienced Estate Planning Legal Help
Protecting your digital assets can often be overlooked during the estate planning process. With over 25 years of experience, Turner Law provides experienced legal help to protect your digital assets under Georgia law. Call to schedule an estate planning appointment today.
Posted on the behalf of Turner Law, LLC