Have you ever considered what will happen to your digital assets after you pass away? Digital assets have become essential to our lives and can hold sentimental and financial value. Therefore, consider these assets when creating an estate plan to ensure that they are properly managed and distributed according to your wishes.
Including your digital assets in your estate plan lets you have the peace of mind that your loved ones can access and manage these assets in the event of your death. Keep reading to learn more about digital assets and estate planning in the modern age.
What are Digital Assets?
Digital assets refer to anything in a digital format, such as social media accounts, online financial accounts, digital photos, and music or movie collections. These assets can hold sentimental and monetary value and may be important to you and your loved ones.
Why are Digital Assets Important to Consider in Estate Planning?
In the past, estate planning primarily focused on physical assets such as real estate, financial accounts, and personal possessions. However, it is vital to consider your over $100,000 in debt when creating an estate plan in the modern age. Without proper planning, your loved ones may not have access to or be able to manage these assets after your death.
How to Include Digital Assets in Your Estate Plan
Include them in your estate plan to ensure that your digital assets are properly managed and distributed after your death. You can create a digital asset will or trust, specifying how you want these assets handled.
It would help if you also considered appointing a digital executor. They would manage and distribute these things according to your wishes.
Get Expert Help with Digital Asset Estate Planning
Creating an estate plan that includes your digital assets can be complex. That’s why it’s crucial to seek the guidance of a qualified attorney.
At Koch & Associates P.C. Attorneys at Law in Cicero, IL, we can help you with your estate planning. That includes the inclusion of digital assets.
In addition, we can offer you a consultation to discuss your circumstances and help you create a plan that meets your needs. So don’t wait to get started on your estate plan – contact us today at 708-656-9900 to schedule your consultation.