An Authorization For Access To Digital Assets
In the past, attorneys have advised clients to amend estate planning documents only when there is a significant change in the family — an adoption or a divorce, for example. Today there is a new reason to amend existing estate planning documents — new laws that allow you to empower a family fiduciary to have access to your digital assets. If you are drafting new documents or amending existing ones, we encourage you to schedule a consultation with an experienced estate planning attorney.
The distribution of financial assets and physical property after death can be a challenging process and, depending on the strength of your estate plan, rife with legal battles. Now, individuals and families must consider access to digital assets.
At the law firm of David M. Jacobs, P.A., we have a long history of guiding Minneapolis and Minnesota clients through the estate planning process. As more people grow accustomed to living with an online presence, these digital assets must be managed in much the same way as physical assets. Our lawyer can guide you through decisions regarding:
- Social media and networking accounts
- Cloud storage services
- Video hosting services
- Email accounts
- Online banking
- Financial accounts
- Dating sites
While many online properties such as Facebook and Google might have built-in features allowing for a “legacy admin” or similar digital proxy, new laws have empowered people to grant access to their online accounts for the purposes of updating or deleting them altogether. We will help you draft a separate estate planning document called an authorization for access to digital assets. Whether you are drafting a new plan or updating an existing one, we encourage you to work with an attorney to develop this new document.
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We can help you list all your online accounts, whether they focus on finances such as brokerage accounts or social and professional networking sites such as LinkedIn, in a special estate planning document. To learn more about the importance of naming a family fiduciary who can act in your place after your passing, we encourage you to schedule a consultation.