The current health situation of the world has caused a great deal of uncertainty in recent weeks. The Coronavirus outbreak has many people looking into creating a plan for the future of their assets and loved ones. An estate plan is an important thing to have during a time such as this, as no one is able to predict what may happen tomorrow. In today’s day and age, many people are turning towards digital estate plans instead of traditional paper documentation. In doing so, it is important to know what this should include so that the plan covers all bases. During this time, it can be beneficial to retain the services of an experienced New York estate planning attorney for guidance.
What Should My Plan Include?
The first step in creating a digital estate is to create a list to take inventory of all digital assets. If you are a business owner, you should create a separate list of business assets. Assets to include in these lists can include the following:
- Computing hardware such as computers, hard drives, flash drives, tablets, smartphones, cameras, etc.
- Any information stored electronically
- Online accounts such as email, social media, photo sharing, shopping, storage, websites, blogs, etc.
- Domain names
- Intellectual properties
In addition to this, it is important to leave instructions on how these assets can be accessed as well as any login information and answers to security questions there may be. Within a digital estate plan should be how you wish these assets to be managed if you are not longer able to take care of them yourself. For example, you may want some assets to be kept or transferred to loved ones, while others can be deleted. These wishes can be carried out carefully by an executor, someone you trust with your final wishes.
Where Do I Store the Information?
Once all the information within a digital estate plan is complete and together, it must be stored and protected in a secure location. This may be possible with an attorney, an online storage service, or in a safe. When choosing a location to keep your estate plan, be sure to inform your executor so that they know how to access it when the time comes.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wish to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.