Creating a plan that will ensure the protection of one’s financial and legal interests requires considering issues that could have an impact long-term. For some, this means taking account of all digital assets and including provisions for their management in an estate plan. If a Louisiana adult fails to include these specific assets, it could result in complications and setbacks for loved ones and beneficiaries in the future.
Security of all digital assets
Much of one’s life is contained online, including everything from social media accounts to cryptocurrency. One would be wise to have plans regarding preferences for how to access and manage these things after passing. By creating a will, one can name an executor who will oversee the process of addressing digital assets. It is also possible to include terms that specifically outline directions and instructions.
The first step in properly including digital assets in an estate plan is to take an account of one’s entire digital footprint. This includes listing passwords for accounts, making a list of assets and explaining instructions for how to access everything. This will ensure that things are simple for the executor and the owner gets the final say over what happens to his or her property.
Where to start
The process of creating a strong and thoughtful estate plan should start with an assessment of the individual situation. Speaking with a Louisiana attorney can help one understand what steps he or she needs to take for full protection and security. It is also helpful to discuss how to account for an include plans for digital assets in the planning strategy as well.