Generally, people believe wills and
trusts are solely exclusive to traditional tangible property, like real estate, jewelry, and valuable collectibles. As a result, many people fail to include their valuable or significant digital assets in their
estate plans. Digital assets are intangible virtual property that is best understood as information, rather than something physical. These assets may include, but are not limited to, digital images, stock photos, audio, video, e-books, as well as your personal online account information for websites or applications. For example, imagine that you created digital copies of treasured family photos that span for several generations, but lost the original prints. You want to make sure those digital family photos are kept safe and in good hands.
In order to ensure that your digital assets are protected, you should include them in a will or trust and designate a fiduciary to execute your wishes. Digital assets are very important to include in your trust because they pose various obstacles that you don't have with traditional property, including passwords, encryption, computer crime laws, and data privacy laws. Any one of these obstacles can make it practically impossible to do anything with those digital assets. The best way to protect your digital assets is to include them in a will or trust and designate a fiduciary to execute your wishes regarding what you want done with those valuable digital assets.
Now that you are aware of the importance of protecting your digital assets, don’t make the mistake of leaving them unprotected. Contact Atlantis Law LLP to speak to an experienced estate planning attorney who will make sure your digital assets are properly addressed in your estate plan. Contact
us today to schedule a free consultation.