Digital Assets and Your Estate

Defining Digital Assets
Digital assets can be loosely defined as any online or electronic records, art, images, emails, creations, files, accounts or subscriptions that are owned by an individual. These assets may be stored on a computer or other electronic device such as a smart phone, a thumb drive or in a cloud.

Considering Your Digital Estate
If you have any kind of online footprint or own any offline digital content, you have a digital estate. It’s just as important to create a legacy and/or estate plan for these digital assets as it is for your tangible assets. It is important that your estate planning documents, such as your Will and Power of Attorney document, specifically include digital assets to determine:

  • What happens to your social media accounts upon death. Will they be maintained by a specific person, or would you prefer them to be deleted and closed? We’ve heard stories of parents wanting to access the photos stored on their deceased child’s Facebook or Instagram accounts but not being allowed to retrieve them. Or of spouses wanting to leave up the page of their deceased spouse as a memorial to that person.
  • Who can access and manage your online accounts and subscriptions. Many people are now doing more and more banking online, including paperless statements. Imagine if your spouse passes away and you don’t have access to the login information for your bank and online bills. A digital estate plan will allow you to give an executor or heir access to online accounts that make estate management easier.
  • Who will gain access to your purchased digital assets. Many people spend thousands of dollars a year on movies, programs and games that they download. While not all of these assets come with licenses that permit transfer, some do.
  • Who will gain possession of your emails and other digital files. Every day a tremendous amount of personal information is shared via email and recorded on digital text files. It’s possible that you don’t want just anyone to have access to this information, which makes it vital to set up a digital estate plan spelling out who has control of its oversight.

Don’t assume that your Agent named in your Power of Attorney or the Executor of your Will automatically has access to your digital assets. Talk with an attorney about updating your documents to include digital assets or developing a digital estate plan to include a list of accounts, passwords, assets and other information.

Adrianna Environmental B&W

Adrianna Rocha

Client Relations Representative

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
adrianna@kramerwealth.com

Adrianna Rocha joined Kramer Wealth Managers in 2021.

Adrianna is responsible for client experiences and service. As part of the customer service team, she strives to help and provide top-notch service to our clients. As part of her role, she communicates with clients through videophone, schedules client meetings, prepares and processes forms, and gathers information for our advisors.

My clients’ accomplishments are also my own. 

Adrianna Rocha graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017. Before she joined our team, she worked in the customer service industry for nearly a decade. She excels in human-to-human relations and takes pride in not only her own accomplishments, but her clients’ as well. Adrianna enjoys chatting about her slight obsession with dogs, houseplants, essential oils, and food: especially Mexican food! She is also a proud fur-mama to her beautiful Aussie-mixed pup, Ziva.

Adrianna is not registered with FSC Securities Corporation.