Estate Planning for Digital Assets
When a Kansas City resident is considering what they might put into their Estate Plan, most folks think of traditional assets like a house, bank accounts, retirement accounts, and other personal property. In the modern technological age though many of our assets are actually “digital” or in other instances, access to the real asset is digital – on a computer or mobile device.
What is a Digital Asset?
A Digital Asset is any sort of electronically maintained account, records, or even a personal file stored on your computer or mobile device including, but not limited to:
- Online account credentials (login information) for Bank accounts, Mortgages, Auto Loans, Retirement accounts, etc.
- Tax information (PIN numbers, past tax return access, IRS/State account credentials)
- Email Account credentials (need to reset the password to another digital asset?)
- Stock and Trading Account credentials and 3rd party authorizations
- Social Media accounts (Do I want my Facebook removed upon passing?)
- Crypto Currency (for those that partake)
- Intellectual property (that million-dollar invention you dreamed up years ago)
- Medical Records (Did the doctor email lab results for a child?)
- Radio Frequency Identification “RFID” tools (some folks […]
