Today, more and more of us do everything electronically. Consider your relationship to technology today. What device do you use to access the internet? How often to you go online? What tools or services do you use that are “online only”? Who owns your accounts in addition to you? Have you included digital asset access and ownership into your existing estate planning documents?
From bank accounts and credit cards to social media and smartphones, how much of your life is run or at least operated digitally? Many of us are so technologically dependent we can’t imagine a time when things won’t work. This can happen, however, at any moment. What if it happened and none of your passwords worked, are you prepared?
In an estate planning and elder law planning context, we must be aware that the rules related to how we access and operate digital assets is fairly new. It is also an area of the law that has undergone significant changes and we can expect to continue to see changes as technology evolves. What is you or your loved one was suddenly incapacitated? If you or your loved one could not communicate would these digital assets be accessible or at risk? What would you do?
Your early preparedness can mean the difference between accessing these assets in a crisis or completely losing them in the event of a crisis or death. Digital Assets can be tricky and will remain so in the foreseeable future. It is our goal that you are not caught off-guard. Click here to download our free Online Account Access Form.