When creating your comprehensive Florida estate plan you should include your digital assets. Your digital assets could include a range of electronic records, including everything from social media accounts, like Instagram and Facebook, to digital photos stored in iCloud or Google Photos, to email, and even to online financial accounts, like Apple Pay, Google Pay, and cryptocurrency accounts. The following recommendations may help you know how to include digital assets in your estate plan while keeping them secure.
The preservation and protection of all your passwords are critical in addressing the security of your digital assets. It can be very difficult to keep track of all of the different passwords you use to access your different accounts on a frequent basis. One recommendation to help you keep track of your passwords would be to make a written list and keep it in a locked desk drawer, lock box, or home safe. However, it should be kept in a familiar location so that you can access it frequently whenever you need to make updates to your list. Additionally, the passwords you choose should be strong and not easily guessed do not use names of familiar persons, pets, locations, or vehicles, and the password should have upper and lower case letters, a numeral, and a special character. It is also recommended that you should change your passwords often, even if only once a year. Be vigilant in checking on your digital assets to ensure your passwords have not been compromised. If they have, update them immediately.
We recommend that you pick a “password person” who can be trusted with your password information and keep this person informed of where you keep your password list so he or she can access it when the time comes. When working with your Florida estate planning attorney, you may wish to detail who should have access to your digital assets when you create your Florida will, or leave your personal representative instructions regarding your passwords.
There are digital assets that are financial, like digital Paypal, Venmo, Apple Pay, Google Pay, Bitcoin, or other cryptocurrency accounts. Some digital assets are photos, documents, and other files stored on services such as Google Photos, iCloud, or other archiving services.
After reading this article, you may have additional questions regarding your estate plan and your digital assets. Frye, Fortich & Garcia, P.L., is a law office small enough to provide personal service but large enough to provide services throughout South Florida. Our law firm will guide you through legal challenges involving your estate plan We encourage you to contact us and schedule a meeting with our attorneys.
