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Digital assets and making the future easier for loved ones

by | Jul 30, 2022 | Estate Planning

When it is time to settle an estate, Nevada families may find the process much more complicated when certain matters are not clearly addressed in their loved one’s estate plan. While most people outline what they want to happen with their physical property and money after they pass, they may overlook their intangible property. This includes digital assets and certain types of accounts. It is important to include these things as part of a complete estate plan.

Make instructions and preferences clear

Each person has the right to have the final say over what happens to his or her estate after death. And as most people have online lives, these matters should be clearly addressed as well. An executor may have automatic access and management capabilities over certain things, such as digital currency and computer files, but family members could still be blocked out of other types of accounts.

It is prudent to leave clear instructions regarding the management of email accounts, social media accounts, automatic payments and more. Without instructions and permission, it may be difficult or even impossible for a Nevada family to settle certain matters as their loved one would have wished. Estate planning should include consideration of all intangible assets.

A complete estate plan

If an estate plan does not include instructions for digital assets, it is not a complete estate plan. It is prudent for one to consider the additions he or she may need in order to have the right plans in place that will provide an appropriate amount of security and control. An assessment of one’s estate and goals can reveal the specific tools one may need to employ in his or her plan.