Question: How will my digital assets be retrieved after I’m gone? Answer: Most people, regardless of age, maintain active online bank, investment, e-mail, social media, and other accounts that require username, password or other information for access. As we become increasingly dependent on technology, it is that more important to document your wishes about access to, and disposition of, your digital assets. One option to consider is to create a digital asset inventory which includes all of your devices and accounts, numbers, usernames, passwords, security questions/answers and any other special instructions. Or course any digital asset inventory that you retain is also a security risk so it is advisable to keep and store the information separately. There are also several services to consider in this regard such as the online password manager Dashlane or PasswordBox, which many people are starting to use. Of course I believe these services also require a password so no question that keeping track of all this information will be a challenge! As always, if you have any questions or would like to learn more, please let me know.
ABOUT STEVE SHANE
Steve Shane provides strategic counseling to clients in need of estate administration, charitable giving and business continuity planning while minimizing estate, gift, and generation-skipping transfer tax exposure. He offers legal guidance to clients on asset protection and the proper disposition of assets in accordance with the client’s objectives, while employing tax planning techniques such as the use of irrevocable trusts, life insurance planning, lifetime gifts and charitable trust. He is also experienced with drafting documents for business planning, the incorporation and application for exemption for Private Foundations and the administration of decedents’ estates. You can connect with Offit Kurman via our Blog, Facebook, Twitter, Google+, YouTube, and LinkedIn pages. You can also sign up to received Law Matters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
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