So What Happens To My Facebook Page and On-Line Accounts When I die?
When we think about what will happen to our “things” when we die, we often do not consider our Facebook, twitter, google, or snapchat accounts. Technology is often the last thing on our minds.
It may be time to consider putting together a tech checklist so that your loved ones can have access to digital files like photos, videos, and other memories. Given the continuous growth in technology, it is more important than ever before to make a plan for your digital assets. This has often been referred to as a “digital legacy.”
Below is a checklist to help you put together your digital legacy plan:
1. Take inventory of your digital assets
2. Add a digital executor to your will [Note: It is problematic whether a court will allow bifurcation of an executor’s duties.]
3. Add digital heirs to your accounts
4. Plan to pass on your passwords
5. Record your stories
This will be a great start for putting together a solid plan for your digital assets.
Still have more questions and want to develop a plan for your digital and non-digital assets? Call us for a free consultation.
Minimize family conflict during your life and after your passing by having your estate plan drafted by an experienced team ready to defend your wishes and follow your instructions.
Estate and asset protection planning provides solutions to the following types of concerns:
How will I avoid the cost and inconvenience of probate for my spouse and children?
If you have ever been confronted with needing to administer an Estate for a loved one who died without a will or estate plan, they quickly realize the time and expense associated with the probate process. For many clients, the best solution is a revocable trust, often referred to as a living trust. This document when funded will enable you to avoid the probate process.
If I can’t make legal, financial, or healthcare decisions for myself, how can I be sure my wishes are carried out?
Again, a revocable trust may provide the answer. In addition, every client needs a durable power of attorney and a health care proxy appointing a trusted individual to make financial and health care decisions for you when you no longer can yourself.
How can I make sure my wealth and possessions end up in the right hands when I’m gone?
Wills and trusts are vehicles for passing on your assets to those you choose. Many clients are concerned about funds they leave to their children being at risk of their children’s creditors, spouses upon divorce, or simply bad decisions their children may make. For them, a family protection trust can provide the protection they seek. In addition, proper planning will prevent the payment of unavoidable estate taxes upon your death.
My spouse needs more care than I can give. Will we lose everything to pay for care, or are there options?
Not if you plan properly, the earlier, the better. There are a number of planning options available to spouses of nursing home residents to protect their financial well-being while qualifying their ill spouse for Medicaid coverage of nursing home fees.
My child is disabled. How can I provide for her future?
We have helped many parents of children with special needs plan for their children through the creation of a special needs trust funded with life insurance.
What legacy will I leave?
Your greatest legacy of course is the children and grandchildren you raise, if any, and the memories you leave with your family, friends, and work colleagues. However, support of charities and an estate plan that provides for your family and smoothly passes on what you leave behind will also contribute greatly to the legacy you leave and your family’s welfare for decades to come.
Contact us today for more information (401) 274-0300
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