Keeping Digital Assets in the Family
Nowadays, many of us have “digital assets”. Digital assets include Bitcoin, blogs that earn income, reward points for credit cards or airlines, and those with sentimental value such as digital photographs and social media.
To make sure that these important files can be passed on to your heirs, you need to take certain steps.
First, make a digital asset inventory. Second, ensure your spouse, heirs, or representatives can access them.
You can have a password manager on your computer or smart phone for these devices. But federal privacy laws may prohibit others from accessing your account.
Some companies such as Google and Facebook now have settings where you can name a person who will take over your account after your passing.
For other accounts, you should have an up to date Will, Trust, and Durable Power of Attorney which specifically permits your designated agent to access these accounts. Florida is one of the states which now has a Fiduciary Access to Digital Assets statutes which governs and enforces these documents.
Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.
This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.