As we spend more time online, our social, sentimental, and financial assets have begun to migrate online as well. Collectively, we have come to call these items, your digital assets.
Unfortunately, people all too frequently neglect the digital component when they write a Will. You probably haven’t considered creating a plan for your Facebook, LinkedIn or Twitter accounts. Maybe you have recently experienced the loss of a friend and seen first hand the mis-management of online accounts for people who are no longer alive, I know I have. Sadly, three of my ex-colleagues have died, and every year, LinkedIn still prompts me to congratulate them on their work anniversary.
But there is much more to digital assets than your social accounts. Some of these assets simply need to be managed, some need named beneficiaries, and some have real monetary value and should be included as part of your estate.
Your Digital Assets – what are they?
You can divide the three most common forms of digital assets into three categories: social, sentimental, and financial digital assets. You may have a plan for your social assets, but having a comprehensive plan for your sentimental and financial assets is probably more important. Continue reading