Safeguarding Tomorrow: Estate Planning for Digital Assets

by: Attorney Noyes

11/21/20232 min read

Our lives are intricately woven with online presence and assets in today's digital age. From sentimental photos to online financial accounts, digital assets have become integral to our legacy. Recognizing and planning for the fate of these digital possessions is a critical aspect of comprehensive estate planning. At Noyes & Associates, we understand the importance of addressing digital assets in your estate plan and are here to guide you through the process.

Digital Assets: More Than Just Passwords

Digital assets encompass a broad range of online accounts and files, including:

1. Social Media Accounts: Facebook, Instagram, Twitter, and other social media profiles.

2. Email Accounts: Gmail, Outlook, and other email services.

3. Financial Accounts: Online banking, investment accounts, and cryptocurrency holdings.

4. Digital Photos and Videos: Files stored in cloud services or on electronic devices.

5. Intellectual Property: Blogs, eBooks, and other digital creations.

Critical Considerations in Estate Planning for Digital Assets

1. Inventory Your Digital Assets: Create a comprehensive list of all your digital accounts, including login credentials and any specific instructions for each.

2. Specify Your Wishes: Clearly articulate how you want your digital assets managed, whether transferring ownership, archiving, or permanently deleting them.

3. Granting Access: Designate a trusted individual to access your digital assets and accounts. This person, often called a digital executor, should be someone who understands your wishes and can navigate online platforms.

4. Include Digital Assets in Your Will: Clearly state your intentions regarding digital assets, providing legal guidance on handling them.

5. Update Regularly: As life changes, so do our digital footprints. Regularly review and update your estate plan to ensure it reflects your current wishes and the evolving nature of digital assets.

Why Professional Guidance Matters

• Estate planning for digital assets can be complex due to the ever-changing landscape of technology and the varying policies of online service providers. Seeking professional guidance is crucial as it can:

• Navigate Legal Complexities: An attorney can help you understand the legal implications and complexities of planning for digital assets.

• Draft Legally Sound Documents: Ensure that your wishes regarding digital assets are properly documented in your estate plan, making them legally binding.

Stay Informed: Attorneys stay updated on the evolving laws and regulations surrounding digital assets, ensuring your plan complies with current legal standards.

Contact Noyes & Associates for Your Estate Planning Needs

At Noyes & Associates, we are committed to assisting you in safeguarding your legacy, including your digital assets. If you have questions about incorporating your online presence into your estate plan or need guidance on any aspect of estate planning, please contact us. Let's work together to ensure your wishes for your physical and digital estate are honored.