What Are Digital Assets In A Will?
March 7, 2024
By Lee Goupil
A our lives have become increasingly more intertwined with technology. This in turn, has created a new category of assets known as digital assets. These assets encompass a wide range of content and information that exist in digital form. Examples of these would be financial accounts, social media profiles, digital photos, intellectual property, and cryptocurrencies.
Including digital assets in your estate planning is essential to ensure they are managed and preserved according to your wishes after you pass away. This blog post explores what digital assets are, why they’re important, and how you can include them in your will to safeguard your digital legacy.
What Are Digital Assets?
Digital assets are any form of content or information that exists in digital form and has value. This can include:
Financial Accounts: This includes online banking, investment accounts, and digital wallets like PayPal or Venmo.
Social Media Accounts: Platforms like Facebook, Twitter, and LinkedIn where you have a presence and may have valuable content or contacts.
Digital Files: This includes photos, videos, music, and documents stored on your devices or in the cloud.
Intellectual Property: This includes copyrights, trademarks, and any digital creations you own.
Cryptocurrencies: Any digital currencies like Bitcoin or Ethereum that you may own.
Why Include Digital Assets in Your Will?
Preservation of Assets: Ensuring that your digital assets are properly managed and preserved according to your wishes.
Privacy and Security: Protecting your digital presence from unauthorized access or misuse.
Access for Loved Ones: Providing access to valuable information or sentimental content for your loved ones.
How to Include Digital Assets in Your Will
Inventory Your Digital Assets: Create a list of all your digital assets, including login information and instructions for accessing them.
Specify Your Wishes: Clearly state how you want each digital asset to be managed or transferred after your passing.
Choose a Digital Executor: Select a trusted individual to act as your digital executor, responsible for managing your digital assets according to your wishes.
Update Regularly: As your digital footprint evolves, regularly review and update your list of digital assets and instructions in your will.
Conclusion
Incorporating digital assets into your estate planning is crucial in today’s digital world. By understanding what digital assets are, why they’re important, and how to include them in your will, you can ensure that your digital legacy is managed according to your wishes.
Solutions
Utilizing a Digital Estate Protection service such as Noni enables you to easily organize and manage your digital assets. As a result, you’ll have peace of mind that your Digital Legacy will be taken care of, and your loved ones won’t be left in the dark.
About Noni
At Noni, we strive to provide assistance in navigating the complex realm of digital affairs of the Estate. Our mission is to:
Empower consumers to plan for the disposition or transfer of their digital assets. Ensuring their wishes are respected and their loved ones are supported during a difficult time.
Help families navigate the complexities of winding up the digital affairs of a deceased loved one. Providing guidance and support every step of the way.
Assist online providers in managing the online accounts of their deceased users. Helping them to honor their users’ privacy and safeguard their information.
Through our services, we aim to bring clarity, compassion, and expertise to an often-overlooked aspect of modern life. Our mission is to help our clients feel confident that their digital legacy is in good hands.