Protecting your Digital Assets
These days we live most of our lives on the internet. We manage our banking and finances, shop for all of our needs, attend school, listen to music, visit with friends…
Estate Planning – Protecting your Digital Assets
These days we live most of our lives on the internet. We manage our banking and finances, shop for all of our needs, attend school, listen to music, visit with friends, watch movies, store pictures, and do our professional work online. Imagine all that would be lost if we suddenly passed away or became incapacitated without leaving access to our online accounts.
Estate planning tools like wills, trusts and powers of attorney allow fiduciaries or persons acting on our behalf, to access our virtual lives, pay our bills, and retrieve our digital assets. I personally access various online accounts on a daily basis. It is critical that someone could step into my shoes to reach my digital assets if I become unable to do so. I would never want to burden my loved ones with trying to manage my affairs without that all important access to my usernames and passwords.
When you are creating or updating your estate planning documents, it is strongly recommended that you factor in your digital assets, and that you establish a plan to grant your representative permission to access and navigate these accounts. In 2021, this is an absolute must for all of us as we engage in our estate planning.
Wolfson and Klein-Wolfson, PLLC. is a Syosset (Long Island) based law firm with experienced employment law attorneys that can help you understand your rights when dealing with discrimination, and advise you of legal options for filing a complaint or lawsuit. Kindly contact us for a free consultation to discuss your specific circumstances.
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