When we talk about estate planning, oftentimes, the first thing that comes to mind is writing a will. While much estate planning has to do with your physical assets, the experienced Maryland estate planning attorneys at JD Katz, P.C. believe creating a digital estate plan is equally important. Please continue reading to learn more about digital assets and how to best plan for your future.
Are there different types of digital assets?
If you own a computer, cell phone, or anything else of that nature, you have digital assets that need preservation or deletion upon your passing. Some of which are as follows:
- All data of which is electronically stored. This can include online data, cloud data, or even data that you have stored on physical devices such as your cameras, laptops, desktop, or phone.
- Accounts you use for online social media, emails, online shopping accounts (such as for Amazon), and any blogs or websites you may have contributed to in the past.
- All intellectual property that may hold monetary value, including trademarks, copyrighted materials, and any other code you have written and own
- Any computers, iPods, external hard drives, and more
Choosing a Digital Executor
As with choosing any executor, you must trust this person, as they will be in charge of all your passwords and logins when the time comes. You should keep a working list of where all your technological devices are located and stored for your digital executor so he/she can find them with ease.
How to Protect Your Digital Assets
Though many states do not recognize a digital executor, you can still ask the executor of your estate to appoint a digital executor. One way to protect your digital assets is by storing them with a trustworthy attorney. Additionally, you may use an online storage service, or even keep your wishes for your digital estate in a locked file cabinet or safe, however, you will have to provide your digital executor with the code. For any additional questions, please do not hesitate to speak with our knowledgeable Maryland estate planning attorneys today. We are here to help.
Contact our experienced 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.