When drafting your will, you will remember to include assets like your financial savings or family home. But many people don’t think of their digital assets, which includes everything from Paypal funds to the files saved on your computer. Find out what to consider when incorporating these items into your estate planning. 

Do:

Designate an executor and grant them access.

You will need to name an executor in your will. This person handles the administrative elements needed to implement the will when you pass on—for instance, starting the probate process. If your will includes digital assets, make sure you explicitly leave written permission for your executor to access these.

Specify what your executor should do.

Just as with physical possessions, when it comes to digital assets, you need to specify what goes where. For instance, if you have Paypal funds, where should the executor ensure they go? If you have photos saved on your computer, should your executor delete them or pass them on to a family member on a USB flash drive?

Don’t:

List passwords in the will.

Refrain from including access details to digital accounts in your will. When you pass on, the will becomes public. Instead, list usernames and passwords in a separate document. You can keep it alongside the will in a safe space like a fireproof safe. Your attorney can hang on to a copy as well.

For help with your estate planning needs in Honolulu, look to Wills and Trusts Hawaii. Their team of attorneys helps clients with everything from establishing powers of attorney to creating living trusts. Based on your family’s situation, they will advise you on which tools to use to best protect your assets. Over their years of service, they have built a reputation for personalized and compassionate service. Learn more about their experience online. To schedule a a free consultation, call (808) 792-8777.