Digital Asset Considerations

According to a recent survey conducted by McAfee security company, Americans give their digital assets an estimated worth of $54,000 on average. However, despite there value few people create an estate plan for their digital assets. Dividing your digital legacy is complicated because of privacy agreements and federal laws that limit account information to only authorized individuals. Andrea Coombes has made a short list of suggestions that people with digital assets should consider.

1. Make a list of all of your online accounts so that your executor can identify your digital assets.
2. Explain how you want to distribute the online assets.
3. Look into the estate management options that each digital account offers.
4. Choose a digital executor.

See Andrea Coombes, Who Gets Your Digital Fortune When You Die?, Market Watch, Jan. 10, 2014. 

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.