It should come as no surprise that as modern life changes, so does estate planning. For example, just two or three decades ago, no one had to worry about addressing a digital legacy in their will. Nowadays, though, most people have a fairly broad digital footprint that encompasses everything from online banking to social media. And if you fail to include these accounts in your plans, you can cause a considerable amount of stress for surviving loved ones. Therefore, it is wise to keep the following digital assets in mind when estate planning. 

3 Digital Assets to Address in Your Estate Plan

1. Financial Accounts

Your will should contain a comprehensive list of all accounts you have ever created to bank online. This includes savings and checking accounts, as well as credit card accounts, retirement accounts, and investment accounts. Your family will need this information to ensure the probate proceedings are based on the most up-to-date information possible.  

2. Ongoing Subscriptions

If you have any ongoing subscriptions, whether for streaming services like Netflix or monthly gift boxes full of goodies, they are likely linked to one of your online banking accounts. After taking inventory of all the accounts mentioned above, make a note of any automatic payments that are pulled from them regularly. 

3. Social Media Accounts

Do you want your social media accounts to be converted into digital memorials after you pass, or do you want them closed altogether? Either way, it’s important to state such preferences—as well as the username and password—for every account in your will. 

If you need help with estate planning in Missouri, turn to Woodlawn Law Offices. Based in O’Fallon, this general practice firm has been representing clients throughout St. Charles County since 1991. Led by Attorney David Schmidt, who has a reputation for being honest, attentive, and strategic, their areas of expertise include wills and trusts, traffic defense, workers’ comp, business law, personal injury law, real estate law, and family law. To learn more about their estate planning services, visit their website or call (636) 240-6667.