Providing An Inventory Of Digital Assets For Your Tampa Will
Most of us spend a lot of time on electronic devices. Scrolling through social media posts, monitoring web pages, sending out emails, and other activities can play an important role both in your personal and professional life. Unfortunately, our Tampa wills attorney warns that this is one of the most commonly overlooked areas in estate planning. Find out how to do an inventory of digital assets so that it can be included in your will and other estate planning documents.
Digital Assets To Include When Creating A Will In Tampa
When creating a will in Tampa, you will want to provide a complete inventory of your assets. In the event of your death, this inventory plays an important role in Hillsborough County Probate Court proceedings and determines how your property and assets are distributed among designated beneficiaries.
Online activities play an important role in our lives, yet most people tend to downplay the amount of digital assets they possess and often fail to include them in their will. The following are common types of digital assets that often get overlooked:
- Email accounts: These may serve personal or professional purposes and are often where monthly bills and other financial statements are sent. Include all email addresses and passwords for each.
- Social media accounts: Whether you enjoy scrolling through posts for fun or are a digital creator with a monetized account, include user names and passwords in your will.
- Domain names and websites: Domains used for blogging or other purposes can have sentimental and financial value.
- Online businesses: The Pew Research Center reports that roughly a third of all Americans make money through online activities. Whether you own an online business or a virtual storefront through websites such as eBay or Etsy, include all pertinent account information.
- Digital currency: Cryptocurrency has gained widespread popularity and can represent significant amounts of money.
- Financial accounts: Rather than conducting transactions through brick-and-mortar businesses, many people rely on online banks and investment services.
- Paid subscription services: Provide billing information and user names for your Netflix, Amazon, and other paid subscription accounts.
- Digital media libraries: This includes all books, music, games, and movies purchased online.
- Cloud storage: Whether you use free or paid cloud storage accounts for personal photos, videos, and documents, provide all relevant information so that these accounts can be accessed.
In addition to the above, be sure and include user names and passwords for all credit cards and other accounts that you routinely access online, as well as login information for your cell phone, computer, laptop, and other devices.
Request A Consultation With Our Tampa Wills Attorney
It is not uncommon for people to overlook digital assets when creating a will. Unfortunately, this can cause confusion and additional heartache for loved ones, depriving them of access to items that have considerable sentimental and financial value. For trusted legal guidance in including these assets in a will and other estate planning documents, contact Strategic Counsel Law Group, L.C. Request a consultation with our experienced Tampa wills attorney today.
Sources:
hillsclerk.com/court-services/probate-guardianship-and-trust
pewresearch.org/internet/2021/12/08/americans-experiences-earning-money-through-online-gig-platforms/
