Planning for the future is about much more than simply deciding what will happen to personal assets and property after passing. There are intangible things, such as digital assets, that a Louisiana adult should plan for and protect. Failure to consider these specific issues when estate planning can lead to confusion and complications for those who will handle your estate matters after your passing.
In the past, digital assets were not a factor in an estate plan, but now they are some of the most important and personal things in one’s life. Your digital fingerprint is probably bigger and more significant than you realize, and you have the right to take steps that will allow you a measure of control over what will happen to these assets in the future. Don’t leave your digital life out of your long-term planning strategy.
What are your digital assets?
You may not think you have many digital assets, but these can include any electronic documents, e-records, digital currency, social media accounts, photos and much more. When you consider how much of your life is online in one way or another, you will see how your estate plan should factor in these specific things as well. It will be important to carefully evaluate your entire digital life, taking inventory of the things you may need to include in your plan.
Through your estate plan, you will be able to appoint a fiduciary over certain digital assets, and he or she will act as a type of trustee. You can leave specific instructions regarding what you want to happen to certain things, such as your Facebook account or how you would want to distribute digital currency to heirs. It is important to include details for how one can access these things, as well as a complete list of assets and instructions.
Your unique plan
Every estate plan is different, uniquely suited to that individual person. The right way to handle digital assets in your plan depends on the details of your individual and specific situation. An assessment of your estate and careful evaluation of your immediate and long-term goals can help you develop a planning strategy that leaves nothing to chance. This will give you, as well as your heirs and beneficiaries, peace of mind for the future.