In a digital era, it is becoming more and more common for individuals in Massachusetts and elsewhere to store a significant portion of their information online. Although there may be a variety of estate planning options that cover how digital assets will be handled, this part of the process could go overlooked at times. Those who wish to gain a better understanding of how to incorporate these assets into their estate plans could benefit from obtaining insight into what constitutes a digital asset.
Digital assets can come in a variety of forms, ranging anywhere from email and social media accounts to websites. These can also include assets such as photo collections or videos that are stored online. Online bank accounts or book collections stored on internet applications can also be considered as digital assets, as can monthly memberships or subscriptions that are paid for with credit card information stored online.
When incorporating digital assets into an estate plan, there could be a few unique issues that may arise. For instance, intellectual property and privacy laws pertaining to digital assets could only act to complicate matters. Ownership of media on which digital assets are stored could also be a concern under certain circumstances.
Individuals who wish to include their digital assets in their estate plans could benefit from seeking advice in better understanding all their available options early on. By consulting with an estate planning attorney, a person in Massachusetts could obtain much-needed advice in covering every crucial aspect of the process. An attorney can address all a client’s concerns and assist in creating a plan that is in keeping with his or her wishes for the future.