The New Year is here, which means many people in Lee County, and elsewhere, are looking for ways to improve their lives, including their financial matters. One area that people often tend to overlook is their estate plan. However, the New Year offers a great time to review one’s current plan, or to start one if a person hasn’t already. One very important part of every estate plan these days is a person’s digital estate.
With more and more aspects of people’s lives taking place in the digital world, it is so important, now more than ever, to keep track of one’s digital assets and online presence. If someone dies or becomes incapacitated unexpectedly then what would happen to his or her digital life? Now is a good time to take an inventory of one’s online accounts and passwords.
By making a list of these important items and sharing it with someone close, people can help ensure that their online affairs will be handled properly. One way to do this is to get password management software, which can make it much easier on the person who has been chosen to manage one’s online affairs. While not all online accounts involve money, some are valuable for other reasons. Without notifying anyone of these accounts and passwords, the information could be lost.
Whether you have online accounts or not, now is a great time to review your estate plan from all angles. If you have any questions regarding your estate plan, then you might want to speak with an experienced attorney who can help you sort through your questions.
Source: Physician’s Money Digest, “This New Year, don't forget your digital estate,” David Walters, Dec. 31, 2014.