As technology evolves, more daily matters are taking place online. You likely have social media accounts, online bank balances, and other digital assets that will be left behind after you’ve passed on. However, some of these assets can’t be transferred, so it’s important to speak to an attorney before including digital possessions in your will.

What You Need to Know About Leaving Digital Assets to Beneficiaries

What Can Be Included in Your Will?

As a general rule, only things that you own or have monetary value can be included in your will. In digital terms, this refers to personal data, funds in online banking accounts, bitcoin, and, in some cases, websites or domain names you’ve registered. When preparing a will, specify who can take over these accounts and provide the passwords to ensure your loved ones have access to items like financial assets or online family photo albums.

What Digital Assets Cannot Be Passed On?

While you may have purchased an online service or piece of software, many companies actually sell nontransferable licenses for these programs. This could apply to websites and domain names you’ve registered, expensive graphic design software, or even some music or video files. If you plan on including these items in your will, have your attorney look over the terms of use to determine whether they can be shared after you’re gone.

What About Social Media Accounts?

Millions of people use social media accounts like Instagram® and Facebook® to store photos, videos, and other memories. Unfortunately, transferring control of an account is usually against many platforms’ terms of service. Email addresses can’t be transferred, either. Although, you may leave the password behind so your executor can retrieve important information.

Laws governing an estate’s digital assets can be complex, and terms can vary depending on the type of account and each company’s rules. Having an attorney guide you through the process will ensure your loved ones have access to the necessary information, monetary assets, and precious data you’d like to pass down.

If planning for the inevitable is becoming an overwhelming project, turn to Rutherford Law Office in Chillicothe, OH. This team is led by attorney Sherri K. Rutherford. The office has years of experience guiding families and clients through the complexities of the legal system, including battles pertaining to domestic relations, estate planning, wills, and Medicaid. They will give your case the attention such critical matters deserve. Visit their website or call (740) 775-7434 to schedule your initial consultation.