Digital assets are becoming a popular feature in estate planning documents. Their monetary value is available for disbursement and could ensure that everyone receives their fair share. However, knowing the best approach to managing these accounts may prove difficult for those who aren’t familiar with the basics. Take a closer look at the following to determine how best to proceed. 

What Are Digital Assets? 

Digital assets are any type of item or platform that you can only access through a computer. These can include transactional profiles, such as PayPal®, Amazon®, and Etsy®, as well as financial investments, like Bitcoin. If there are amounts left in these accounts, then you may want to consider dividing them up equally among your beneficiaries.

You should also include digital family photographs, videos, and any paperwork that might be of sentimental value. You can either group them according to the subject or leave it up to the family’s discretion. They can decide the proper dispersion and how to best preserve the memories.  

How Should You List Them In Your Will?

The easiest way to handle these types of assets is to create a list of those that are currently in use. Identify their web address as well as any passwords that may be required to gain access. This will make it easier for the executor of the estate to close out the accounts and distribute the amounts. 

Name the beneficiaries who are going to receive a portion of these assets. Make sure to provide as much detail as possible so that there is no question about what they’re receiving as an inheritance. Meet with the executor of the estate and go through each of the items in the will to ensure they fully understand the requirements. Include legal authorization to avoid any delays.

Start the estate planning process by working with Rutherford Law Office in Chillicothe, OH. They have been in business since 1998 and provide a wide range of legal services to individuals throughout Ross County and the surrounding areas. Their attorneys are well-versed in the intricacies of setting up a will and offer a personalized approach to better accommodate their clients. Call (740) 775-7434 to schedule a consultation, or visit the website for additional information on their attorneys and practice areas.