Did you know that more than 50 percent of Americans have no will? A number of Texas residents may have a will but don’t have all necessary requirements in place. Further, it is likely that most have overlooked an important estate planning document: a digital will, which is necessary in today’s day and age.
Today, estate planning involves more than simply creating a will and appointing an executor to ensure that one’s assets are distributed per their wishes. Now, individuals need to take the time to create a digital will and appoint an online executor. This ensures that all parts of one’s “digital” life are taken care of.
A digital will addresses how one wishes their online accounts to be handled. For example, would you want your Facebook page deleted or left available for friends and family to still visit? How about email accounts? The digital will should include all usernames and passwords so that the online executor that is appointed to handle one’s digital assets will have no problem in doing so.
Aside from emails and social media accounts, it is important that a digital will also includes information regarding how to access online banking accounts, cellphone activity and other important devices and accounts. Those grieving one’s loss shouldn’t be left to figure out the username and password of their loved one.
Many Texas residents may feel a bit intimidated by all of the issues and paperwork involved in estate planning. But you should feel assured to know that help is available to address these important concerns. Estate planning changes with the times, and technological advances have increased the need for additional preparation when deciding how one’s affairs ought to be settled after they are gone.
Source: Huffington Post, “Why You Need a Social Media Will,” Jason Alderman, July 23, 2012