Over the last several years, many of our assets which used to be tangible have become “digital.” Our photo albums are now stored on our smartphones or in the “cloud”; our books are downloadable; and even our currency may be stored in a digital “wallet.” These “digital assets” can and will endure long after our inevitable demise.

Despite the growth of digital assets, when most people are making an estate plan today, they are most concerned with the disposition of their traditional assets such as real and tangible property (their home, cash, bank accounts, and jewelry, for example). Individuals may fail to appreciate the extent of their digital assets, which includes online financial accounts, social media accounts, photographs, documents, Internet-based businesses, and digital files. Each of these assets may require a specific username and password, known only to the owner of the asset, to access and manage the accounts. When an individual dies or becomes incapacitated, important and valuable digital assets may be difficult, or near impossible, to access by anyone other than the owner. This begs the question: How do we protect our digital assets now, yet ensure access later by our trusted family member or fiduciary so that they can be marshaled and protected as part of our estate?

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