As a result of the world’s current health situation when dealing with the Coronavirus outbreak, there are many people looking towards creating an estate plan to prepare for the future of their assets and loved ones. While this is true, due to changing times, many people are choosing to create a digital estate plan instead of traditional paper. In doing so, it is important to be sure it is made correctly. This can be done with the assistance of an experienced Alabama estate planning attorney to make sure no stone is left unturned.
What Should My Plan Include?
When creating a digital estate plan, it is important to take an inventory of all your digital assets. A separate list should be made if you are a business owner. Things that can be included in either list may be:
- Computing hardware such as computers, hard drives, flash drives, tablets, smartphones, cameras, etc.
- Any information stored electronically
- Online accounts such as email, social media, photo sharing, shopping, storage, websites, blogs, etc.
- Domain names
- Intellectual properties
It is necessary to leave instructions on how to access the assets, including a login, passwords, and answers to security questions. The digital estate plan should include how you want the assets to be taken care of if you are not able to manage them yourself. For example, you may want some assets saved, deleted, or even transferred. This can be implemented by an executor, who is a person you choose to carry out your final wishes.
Where Do I Store the Information?
Once this information is together, it is important to protect your plan. This can be done by putting it in a secure location. Depending on your wishes, this may be with an attorney, an online storage service, or a safe. When storing your plan, make sure you inform your executor of its location and how it can be accessed so that they are ready when necessary.
Contact our Firm
Stone Crosby, P.C. has proudly served clients in Alabama for over 100 years. Our firm has experience handling matters including divorce and family law, estate planning and administration, business law, employment law, class actions, consumer protection, business law, real estate law, among many others. If you require quality legal representation, contact our firm today to schedule a consultation.