Share:

When drafting a will, assets like your home and car are some of the more obvious items to include. As any attorney will tell you, however, there are also intangible items to consider: digital assets. These can cover everything from Bitcoin and Paypal funds to photos saved on your computer. Find out how to handle the inclusion of these items.

Do:

Grant your executor access.

attorneyYou need to name an executor when creating a will. This person—perhaps an attorney or family member—is responsible for submitting the will to the probate courts for authentication, notifying beneficiaries and ensuring the document’s directives are carried out. Make sure to indicate that the executor may access your digital assets as well.

Specify what goes where.

When including digital assets in your will, explicitly identify each type of asset and which beneficiary should receive it. The executor will oversee the transfer to the appropriate persons.

Don’t:

List access details.

Keep in mind that a will becomes publicly accessible after you pass on. Refrain from including passwords and usernames for digital assets in this document. You may choose to keep one copy of the will in a fireproof safe along with separate paperwork containing access codes.

Include every digital account.

Your will can’t address social media or email accounts because you don’t own them—you just have a license to use them. However, you should still have your attorney include a note in the will regarding what to do with these items. For instance, some people want their social media accounts shut down, while others keep them open to allow friends and family to pay tribute by posting memories.

 

For assistance with your estate planning needs in Honolulu, HI, look to the Law Offices of Neil T. Nakamura & Associates. These attorneys have been helping clients with wills and trusts for over 43 years. Known for their honest guidance, they will provide you with personalized, reliable advice for estate planning as well as family and elder law. See an overview of their services online. To request a free consultation, call (808) 945-7645.

tracking