What You Need to Know About Creating Your Digital Estate

What You Need to Know About Creating Your Digital Estate

There are few things more important than creating an estate plan, and in your estate plan, you will most likely include a will, powers of attorney, one or more trusts, and more. However, in today’s day and age, you should strongly consider planning your digital estate as well. This is something that can significantly benefit you in the long run, as you most likely have far more digital assets than you even realize. Please continue reading and speak with our Maryland estate planning attorneys to learn more about digital estates and how we can help you create one. Here are some of the questions you may have:

What digital assets may be incorporated into my digital estate?

When creating your digital estate, you have a lot to consider. Not only will you have various assets you wish to preserve, but you may also have various assets that you may wish to delete or destroy. Some of the most important digital assets are as follows:

  • Any intellectual property you may own. Intellectual property can include trademarks, patents, and any other code you may have developed. Oftentimes, these assets are stored online, and you should include them in your list.
  • Any electronically stored data you may own, such as data on a cloud, online, or on a device.
  • Online accounts and their login information. This can include login information for shopping websites, social media accounts, blogs you contribute to, and more. Also, many people have gift cards and other forms of cryptocurrency that they may use online. Ensure these are protected as well.
  • Protect all physical assets that may have digital assets on them, such as computers, phones, iPads, tablets, and more.

What is a digital executor?

A digital executor is a person you will appoint to handle your digital estate. Essentially, you will appoint someone you trust who will know your passwords, the locations of your digital assets, and more. This person will then be in charge of distributing these assets according to your wishes upon your passing. The responsibility, clearly, is not one to be taken lightly. Though a digital executor is not a legally binding position, you can instruct the executor of your estate to appoint a digital executor of your choosing.

Contact our experienced Montgomery County, Maryland firm

The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.

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