One of the purposes of creating a comprehensive legal and financial strategy for the future is to ensure you have the final say over what happens to your property after you pass away. Through an estate plan, you can also plan for potential medical care needs you may have, as well as non-physical assets. By addressing these things in advance, you can secure your interests and ensure that you can face your future with confidence.
In order to have a complete estate plan, it is critical to address all of your assets. While you will automatically think of your physical assets, such as your home, you will benefit from also considering your intangible assets as well. Your digital assets are part of your estate, and they should also be part of your estate plan as well. Like most people, you likely have a digital footprint, and this is a valuable and important type of property.
Protection for all your assets
Your estate likely also contains assets that you cannot see or touch, but they are still important and valuable. For example, your social media profiles could contain personal information and pictures that you posted for your friends. You may also own digital currency. Common types of digital property you may need to address in your plan include:
- Domain for websites
- Blog content
- Digital photos
- Online gaming avatars
- Airline miles, hotel points, credit card rewards
- Non-fungible tokens
- Online, monetized video channels
- Digital rights to musical compositions or literary works
Each estate is different, and you will benefit from carefully evaluating all of your digital presence in order to determine what you need to address in your estate plan. You may want to pass assets to an heir, but you may also benefit from providing the passwords and information necessary to give the designated person access to your accounts or online profiles.
Seeking estate planning solutions
You do not have to navigate the estate planning process alone. You will benefit from seeking guidance regarding the most beneficial way to create a strategy that will provide you with long-term stability and security. As you are creating your plan, it is important to consider all of your assets and property, including intangible things that still hold value for you or your loved ones.