Digital Estate Planning: The Modern Necessity You Can’t Ignore
In today’s digital age, nearly every aspect of our lives interlinks with technology. From emails, social media profiles, and digital photographs, to online banking and cryptocurrency assets, our digital footprint spans far and wide. Hence, digital estate planning emerges as a modern necessity.
Prevent Chaos
Why should you consider digital estate planning? Imagine the digital chaos that would ensue if you were unable to manage your online accounts. Your loved ones might struggle to access important emails, be unaware of your online investments, or be unable to close your social media accounts. This scenario underlines the importance of having a digital estate plan.
Digital estate planning ensures that your online assets and personal digital belongings are handled as per your wishes after your passing. It eliminates confusion, reduces the chances of financial losses, and ensures the privacy of your digital life remains intact.
Going Forward
Planning your digital estate is more than just listing your digital assets. It involves deciding what happens to these assets after your demise. Do you want your social media accounts deleted, memorialized, or passed onto someone else? What about your online business? Who should gain access to your cryptocurrency investments? These are important questions that only a comprehensive digital estate plan can answer.
Inventory and Access
Your digital estate plan should include an inventory of your digital assets. This list must encompass everything from social media accounts, emails, online shopping accounts, cloud storage accounts, to digital currencies, and any blogs or websites you own.
For each asset, you should provide access details, like usernames and passwords. Remember, without these details, your digital assets might become inaccessible. However, ensure to use a secure method to store this sensitive information, such as password managers or legal document storage services.
Empower a Digital Executor and Address Fine Points
Also, your digital estate plan must identify the digital executor. This person will be responsible for executing your wishes regarding your digital assets. Choose someone trustworthy, tech-savvy, and capable of carrying out this sensitive task.
Your digital estate plan should be as detailed as possible. For example, if you own a blog, specify whether you want it to remain online or be taken down. If you wish to keep it up, indicate who will be in charge of its maintenance.
Protect Your Digital Legacy
Beyond managing assets, digital estate planning also protects your online legacy. In the age of the internet, your online presence continues even after death. Without proper guidance, your digital legacy may not reflect your wishes.
Digital estate planning isn’t just for the tech-savvy or the wealthy. As long as you use email, engage on social media, shop online, or have digital assets of any kind, it is essential for you.
Attend an Education Event!
We greatly value education because far too many people are uninformed from an estate planning perspective. You can find a treasure trove of information on this website, and we invite you to explore our site to build on your knowledge.
In addition, we go the extra mile through the education events that we offer on an ongoing basis. You will learn a lot if you join us, and there is no charge to attend our events. To see the dates and obtain more information, visit our Oklahoma City estate planning event page.
Need Help Now?
If you have already determined that you are ready to work with an attorney to put a plan in place, our doors are open. You can contact our Tulsa, OK office at 918-615-2700, and the number for our Oklahoma City location is 405-843-6100. We also have a contact form that you can fill out if you would rather send us a message.
After helping his own family deal with a lengthy probate and the IRS following his father’s untimely death in a farm accident, Larry Parman made a decision to help families create effective estate plans designed to reduce taxes, minimize legal interference with the transfer of assets to one’s heirs, and protect his clients’ assets from predators and creditors.
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