Almost all of us have some form of digital footprint. This means that some of our personal data, ranging from administrative data to nostalgic memories, is stored online. We should be able to decide what happens to all of this data at the end of our lives, and in order to do this, we will need to address it on our estate plan.
There are many reasons why making a digital estate plan is so important. However, many people do not understand the full extent to which planning digital asset management can help their beneficiaries. The following are just some of the reasons why you should consider investing time in creating a digital estate plan in Pennsylvania.
Digital asset planning can help beneficiaries have the information they need
Before computers were commonplace, documents relevant to estate administration and probate were kept physically in offices and drawers. However, in today's world, it is likely that your bank statements and bills are only accessible through digital means. Therefore, your loved ones will need to be able to gain access to these documents so that the process can be moved forward.
Business owners need to pass on valuable information
If you are the owner of a business, it is likely that your email accounts and other files will be essential for the future running of your business. It is essential that your work partners are able to gain access to these digital assets at the end of your life.
Sentimental photographs should be accessible for generations to come
Social media tends to have the primary purpose of recording valuable memories. It is likely that you will want your family to have access to these memories for generations to come. Conversely, there may be some things that you will want to be made private, and you may want your social media accounts to be terminated at the end of your life. If this is the case, you can state this on your digital estate plan.
If you are facing the prospect of planning your estate, it is important that you pay attention to the planning of your digital assets as well as your physical assets. Make sure that you understand the law in full so that you can do this successfully.