P is for Protecting Your Digital Estate

P is for Protecting Your Digital Estate

P is for Protecting Your Digital Estate

Have you considered the number of digital assets you have out there in cyberspace?

Today many of us access our banking, financial accounts, and brokerage accounts directly online. We also have web-based business sites, blogs, social media accounts, email account, eBooks, digital music, etc. The list can go on. So how do we protect our digital estate?

These digital assets could have significant value for our heirs whether financial or sentimental. Existing laws do not provide a great deal of help dealing with digital estates at the moment. So then how do we protect ourselves?

Only a handful of states have passed legislation related to this issue. The jury is still the best course of action . Many social media sites and banking institutions have their own set of rules or none at all. Now, estate planners are now taking this issue into serious consideration. Creating specific instructions on how our virtual inheritance can be accessed and transferred properly.

Assigning your digital estate to a trustworthy friend or relative is the best way to assure that it will be handled properly. An inventory of all accounts, user ids, and passwords need to be placed in a safe location. Written instructions on how you desire each account be handled need to be included as well. Whether you wish these accounts to be permanently deleted or passed along to your heirs is within your rights. Make your wishes known.

Answers from AZ

1 Comment

  1. […] a written list of digital pass-codes. Keep it in a safe place or give it someone you trust, like your significant other, best friend, or […]

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