The last several decades have involved some of the most significant technological advances in all of human history. Most people now own cell phones that can take pictures and video, store electronic files, access the internet, and much more. You may use your cell phone, tablet, or computer to pay your bills, interact with friends and family on social media, communicate with colleagues via email, and complete many other responsibilities. Have you ever considered what will happen to this digital information if you become incapacitated or pass away? Through a comprehensive estate plan, you can account for digital items like photographs, files, and other electronic assets.
Start by Listing All of your Important Digital Assets and Expenses
Only about 40 percent of Americans have a will or any other estate planning tools in place. There are many different reasons that people procrastinate estate planning. Some are simply overwhelmed and unsure of where to even start. Planning for your digital assets can be especially challenging if you are not particularly “tech savvy.”
Fortunately, you do not need to be a computer expert in order to create an estate plan that accounts for digital assets. The first step you should take is to inventory all of the online accounts and files that are important to you. You may want to list your:
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