Digital Asset Planning

Serving Sherman Oaks & Glendale with Digital Asset Planning and Managing

 

Does your Estate Plan take into account your digital assets?

So, you’ve thought about your funeral arrangements and who inherits your assets when you are no longer living, but have you thought about what happens to your digital assets when you die or are incapacitated?

 

What are digital assets?

Digital assets are your assets that exist primarily in the virtual world, or online. They include things like your Facebook  account, email accounts, photo books, Paypal accounts, websites, investment accounts, and the list goes on.  They also include files on your computer, mobile phone and photos, to name a few. These digital assets have sentimental, historical, and financial value.  The average value of a person’s digital assets, such as photo libraries, personal communication, and entertainment files, is about $55,000, a value based on sentimental attachments as well as financial investments in music, application, and software purchases.

 

So, what’s the problem?

Most people do not plan their estates with their digital assets in mind. In fact, digital assets are often completely ignored. The problem arises when you become incapacitated or die. Your family members will not able to access your accounts unless you have given them a thorough list of all of your accounts with the relevant passwords.  But even then, most online providers have restrictions in their terms of use that do not allow anyone other than you to access your account.

digital asset planning sherman oaks glendale

 

Click Here to read our blog entry on Digital Assets.

Regardless of the type of account, care must be taken to plan accordingly to ensure that ALL of your assets, including your digital accounts and assets, are addressed in your estate plan.

We provide our clients with not only organizational documents to help sort their digital assets, but we also provide digital asset planning.

For more information on digital assets contact us at (818)649-9110 or email us at  info@bazikyanlaw.com for a free consultation.

 

Contact Armine for a free consultation.