Do You Have a Digital Estate Plan for Your Online Assets? - by David Geer/ Transfering Your Wealth/ Conversations/ Wells Fargo Magazines/ conversations.wfmagazines.com
"In this digital age, people amass an electronic wealth of sorts in social media sites, photo-sharing sites, and online accounts. But what happens to this digital presence when its owner passes away? Who becomes responsible for the disposition and transfer of these digital assets?
Proper digital estate planning, including record-keeping, securely sharing records with attorneys and trusted parties, and creating a plan for the social networks and websites that house digital accounts, should satisfy these concerns.
Estate planning for basic digital assets
Basic digital assets can include multimedia, copyrighted materials, and credits in customer reward programs. "Photos, videos, and blogs that are online, in the cloud, or on a personal hard drive or flash drive as well as e-books, movies, music, and frequent-flyer miles are good examples," says Michael Wernersback, Senior Regional Fiduciary Manager of Estate Settlement Services with Wells Fargo Private Bank. Digital assets may include social media accounts and content on sites like Twitter , Instagram , LinkedIn , and Facebook ..."
Richard
"In this digital age, people amass an electronic wealth of sorts in social media sites, photo-sharing sites, and online accounts. But what happens to this digital presence when its owner passes away? Who becomes responsible for the disposition and transfer of these digital assets?
Proper digital estate planning, including record-keeping, securely sharing records with attorneys and trusted parties, and creating a plan for the social networks and websites that house digital accounts, should satisfy these concerns.
Estate planning for basic digital assets
Basic digital assets can include multimedia, copyrighted materials, and credits in customer reward programs. "Photos, videos, and blogs that are online, in the cloud, or on a personal hard drive or flash drive as well as e-books, movies, music, and frequent-flyer miles are good examples," says Michael Wernersback, Senior Regional Fiduciary Manager of Estate Settlement Services with Wells Fargo Private Bank. Digital assets may include social media accounts and content on sites like Twitter , Instagram , LinkedIn , and Facebook ..."
Richard
Do You Have a Digital Estate Plan for Your Online Assets?
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