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Can you include digital assets in an estate plan?

| Feb 27, 2020 | Estate Planning |

Most New Jersey residents have embraced the digital world. More often than ever before, people use digital venues to conduct business. For some, this means acquiring digital assets like domain names, which can have a considerable monetary value. To ensure that your estate planning efforts are complete, you must consider including any digital assets you own.

Below, you will find several examples of digital assets to include when estate planning.

  • Digital videos or images that add to your income
  • Written works through which you earn money
  • Any blogs or websites you own that earn money
  • Virtual currencies like bitcoin
  • Credit card reward accounts
  • Digital trademarks, copyrights, logos, branding materials, etc.

It is also a good idea to include digital property with no real financial value when you are engaged in estate planning. This ensures that your loved ones know about these assets and can take the proper measures to secure them upon your passing. For example, you can explain how you want your family to manage your social media accounts after your death.

Before you speak with your estate planning attorney about including your digital property, it is wise to make a list of these assets. This enables you and your lawyer to discuss how to address them in your estate plan documents. You should also choose one or more trusted individuals to complete your instructions on how to manage your digital property.

Acquiring and using digital assets has become a major part of the lives of most Flemington residents. Making sure such assets are protected through careful estate planning gives you and your family members one less thing to worry about as the end of your life approaches.

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