Have You Planned for Digital Assets?

More and more today, our clients have a large digital footprint.  They have financial accounts with passwords, security questions and pin numbers.  They have passwords for their email, social media accounts and electronic devices like their computer, phone and tablets.  For many, these accounts and security measures have become so common that many of us do not stop to think about what will happen to these accounts if we become ill or pass away.  The security measures designed to protect our privacy can also prevent our trusted representatives from doing what we need them to do.  For this reason, we recommend that you include language in your estate planning documents that will enable your your Trustee, Personal  Representative and Durable Power of Attorney to manage your digital assets the way you want.  Currently Florida does not have laws that address this topic so setting forth your intent in your trust, will or power of attorney will be important.  We also recommend preparing what we call a digital “inventory” of your passwords and pin numbers and keeping this with your estate planning documents or somewhere secure so that it will be available for your representatives at a time of need.