In the past, physical property were the primary assets tracked for an estate plan. However, the digital age has created some challenges.
Unlike in past decades, a lot of important business is conducted online today. However, it does not leave a paper trail. This makes the job of estate executor even more difficult unless you plan ahead, according to the Times Standard recently in “You and the Law: Planning for the expected unexpected.”
The problem is that if no one knows that a digital account exists and whether you own any digital property, then they might not even know to look for it.
Even if they had a vague notion that you have digital items of value, it would be difficult to even know where to look to find it.
Technology companies make it even more difficult, since they are loathe to provide any information about their customers, even after their customers are deceased.
Someone might know to check your email for any account information, but they would have a difficult time accessing that email.
To avoid these problems, estate planning is even more important than it was previously.
An estate planning attorney can advise you on creating a list of digital accounts for an estate plan that meets your unique circumstances.