Do you have a number of digital assets that you monitor? Are you concerned because data security is in the headlines, and digital privacy continues to be a hot topic? Have you thought about whether you need to protect your digital assets? Do you know how to protect them? Did you know that digital assets can be included in your estate planning? Part of securing your digital assets may be planning for the future and this can be accomplished with estate planning. The following recommendations may help you with understanding how to include digital assets in your estate plan while keeping them secure in the meantime. Also, your Florida estate planning attorney will be able to assist you.
Protecting and preserving your passwords are a crucial first step in addressing the security of your digital assets. We know it can be tough to keep track of all of the different passwords you use to access your different accounts on a frequent basis. One way we recommend to keep track of your passwords is to make a written list and keep it in a locked desk drawer or home safe. It should be somewhere you can access frequently, so that you can make updates to your list, if needed. The passwords you choose should be strong and secure. In addition, you should change your passwords at least once a year. Be attentive in checking on your digital assets to ensure your passwords have not been compromised. If they have, update them immediately.
Is it possible to have your digital assets as part of your estate plan? Absolutely. There are digital assets that are financial, like a digital Paypal, Venmo, or bitcoin account. Some digital assets are sentimental, like a collection of photographs or videos of your children and grandchildren. Be aware that someone needs to be able to access your digital assets after you pass away. You need to select a trusted individual who can be depended on to keep your password information safe. In addition, you need to keep this person informed about where you keep your password list so he or she can access it when the time comes. When you meet with your Florida estate planning attorney he can assist you in detailing who should have access to your digital assets when you write your will. Your Florida estate planning attorney can also advise you with personal representative instructions with respect to your passwords.
We know this article may raise more questions than it answers. We know you may have questions about this, and many other, issues. At the Perlin Estate Planning & Probate our credentials enable us to provide a multi-disciplinary approach to our legal services. By building relationships with our clients, we are also able to understand each client’s needs and desires, and we support such goals through thoughtful, comprehensive planning techniques. We encourage you to contact us and schedule a meeting.