As technology continues to advance, so does the need for estate planning attorneys to include digital assets in their clients' estate plans. Digital assets include anything stored electronically, such as social media accounts, online banking, cryptocurrency, and digital photos. In this article, we will discuss what digital assets are, and why they are important to include in an estate plan.

Why Include Digital Assets in Estate Plans

What are Digital Assets?

Digital assets are any asset that exists in electronic form, including anything from a person's email account to a cryptocurrency wallet. Digital assets can be difficult to manage and transfer after death if they're not included in an estate plan.

Why Include Them in an Estate Plan?

If your estate plan doesn't include digital assets, it can create a significant burden for your loved ones after your passing. Without clear instructions, your digital assets may be lost or inaccessible. For example, your social media accounts could remain active, potentially causing emotional distress for your loved ones who continue to receive notifications. Additionally, if you own cryptocurrency, your loved ones may not even know it exists or how to access it.

Including digital assets in your estate plan can also help to prevent fraud or theft. By designating a specific person to handle your digital assets after your death, you can ensure that your assets are not stolen or hacked. This can provide peace of mind for you and your loved ones.

Digital assets are becoming increasingly important and can be difficult to manage without proper planning, but working with an estate planning can make the process easier. If you need assistance with your estate plan, contact Cronin Skilton & Skilton, P.L.L.C in Nashua, IA. Their attorneys can help protect your digital assets and ensure your wishes are followed. Contact them today at (641) 435-2462 or visit their website.