Once upon a time, people left sentimental and priceless assets such as journals, letters and scrapbooks behind to their loved ones. And while some people may still record their thoughts, memories and daily happenings this way, the majority of Americans are now using computers as their primary form of communication and record keeping.
So what does this have to do with your Orange County estate plan? Well, interestingly, a new and upcoming trend is emerging that will allow people to account for, and leave behind such “digital assets” to their friends or loved ones when they pass away.
When I say digital assets, I not only mean online accounts, domain names, websites, blogs and social media profiles used to make money online, but I’m also talking about digital assets such as photos, emails, music and videos that have more of a priceless and sentimental value to their owners.
And while most estate plans as of today do not account for the distribution of such “digital assets” should something happen to you, I envision this will be something more and more commonplace as so many details of our lives move online.
Yet that doesn’t mean you can’t take steps to protect what you currently have and make sure it gets left behind to the people of your choosing with the help of a qualified Orange County estate planning attorney.
Essentially, that means in addition to tackling the “traditional” estate planning issues of wills and trusts, OC residents should also inform their lawyer of any websites, blogs, domain names, videos, email accounts or any other “digital assets” they own during their initial planning session.
And for those of you who already have an estate plan and now want to include such digital assets into the mix, I would also advise you to meet with an attorney who understands these issues and have your plan updated ASAP.
Here at Morgan Law Group, we’ve made that process easier than ever by offering 10 no-charge Family Wealth Planning Sessions ($750 value) each month to people who need to update (or simply need to get started with) their estate plan.
Just call (949) 260-1400 to reserve your session. Remember, your emails, online videos or blog entries may seem trivial now, but they could mean the world to your loved ones when you are no longer around. Therefore, plan accordingly!