One aspect of estate planning that many people forget is their digital assets, such as social media, websites, financial accounts, and more. As we live in an increasingly digital world, it is important to make sure that you have designated in your will a party to handle retrieving your digital assets and shutting down your online accounts after your death.
With no plan in place, dealing with your digital assets can become an additional, unnecessary burden to your loved ones after you have passed away. Attempting to figure out what types of accounts you had and what your usernames and passwords could have been is a daunting task for your family, often leaving digital loose ends that could be taken advantage of by hackers and other malicious online entities. Rather than creating a digital mess to sort through, you can make the lives of your loved ones easier by creating an inventory of your digital assets, with all the important login information, and appoint an executor to receive the inventory upon your demise.
Wondering how you can start creating a digital inventory? There are many valid options for you to consider. However, one simple way to start the digital inventory process can be done by collecting all of your information into a password management system, such as LastPass. Systems such as these keep all of your important online information in one place, which can not only be helpful for you in your day to day life but also makes passing on your digital assets easier as well.
It is important to discuss your digital assets with your estate planning agent so you can prepare for how those assets will be handled after your death. If you are looking to learn more about the importance of estate planning in general and how to best take into account your digital assets, visit https://hornjohnsen.com/ and contact Horn & Johnsen SC today.