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Sep 1, 2011 12:00 PM
Helping Clients Reach Their Great Digital Beyond
Estate planning for electronic assets
We've all done just that, probably more often than we should admit. On the way to getting started with a new social media or online service, most of us didn't actually read the terms of service. Have you ever stopped to consider what happens to your email, online accounts, digital photos, videos and other digital assets when you die? Probably not. Chances are that your clients haven't either. The answers aren't as clear as we might think, yet it's our job to help our clients understand digital assets as a part of their estate planning.
Digital assets are increasingly becoming a significant part of the legacy our clients leave behind. Unfortunately, the contract they probably didn't read may deny their executors access to their accounts, blocking the executors from carrying out specified wishes. In some cases, the site may even delete the account at death, destroying assets of monetary value. Even more essential to protect is an estate's financial information that may be stored only in digital form, secured by passwords and thus inaccessible to the executor and family.
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| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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