Once you reach a certain age, it is important you prepare a will for the sake of your family. Your family will need to know what to do with your estate, your financial assets, and your possessions. However, you may not have considered what will happen with your digital estate. If you own any electronic devices, such as a smartphone or computer, there is a good chance you would like for some of the data to either be deleted or preserved upon your passing. If you wish to know more about your digital estate, here are some of the questions you may have:
How do I know what digital assets I have?
There are many different kinds of digital assets, which is why they can be hard to keep track of. This is why it is best to keep an organized list of your assets for both you and your family. Some of the digital assets you may wish to consider are:
- Physical assets, such as computers, iPads, tablets, external hard drives, digital cameras, and more.
- Digital tokens, (a.k.a. cryptocurrency)
- Domain names and network infrastructure assets, such as IP addresses
- Data packages
- Data that is electronically stored: online data, cloud data, or data on a physical device
- Online accounts: social media accounts, online shopping accounts, online gaming accounts, email accounts, or any website or blog you have contributed to or own
- Intellectual property, such as trademarks, copyrighted materials, patents, business secrets, and any other code you may have written and own
What is a digital executor?
Though most states do not recognize a digital executor as a legally binding position, you may instruct your estate executor to appoint a digital executor in your will. Essentially, your digital executor will manage all of your digital assets at the time of your passing. You will have to provide your digital executor with all of your logins and passwords, so it is crucial you pick somebody your trust. It may also help to write down the location of all your technological devices so your digital executor can access them more easily.
Can I protect my digital assets?
Fortunately, there are different ways for you to protect your digital assets from unwanted access. Generally, the most secure way to protect your digital assets is by storing them with a trustworthy attorney. However, you may also protect your assets by transferring them into an online storage service, or you may even keep them in a locked file cabinet or safe.
Contact our New Jersey firm
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 20 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.