Your home is properly titled. Your life insurance and IRAs have named beneficiaries. You’ve inventoried your assets and identified who gets mom’s engagement ring and dad’s prized collection of beer cans. Executors are named. Trustees are in place. Medical directives signed and sealed. Your estate is well planned. Or is it?
What about your digital estate? For most Americans, computers, smart phones, flash drives, and the cloud now contain all manner of valuable assets. Some are legacy assets – family photographs, videos, and writings. Others may be intellectual capital assets with significant monetary value. And some may be access value – on line access to bank accounts, investment accounts, and important records.
If your world – as mine – includes these types of digital assets, you need a plan. Starting with an inventory of passwords so your heirs don’t need to be professional hackers and moving right on through the final dispensation of the assets – your estate plan isn’t complete until the electrons have been accounted for.
If you have questions or comments, please send them to Gene@AskMtM.com