In our increasingly digital world, it's crucial to think beyond physical possessions when planning your estate. From online banking credentials to social media profiles and cryptocurrency wallets, your digital footprint holds significant value that needs to be properly managed and protected.
At Roulet Law Firm, P.A., we understand the complexities of navigating the digital realm during estate planning. Our experienced team, led by attorney Chuck Roulet, stays ahead of the curve, ensuring your digital assets are accounted for and your wishes are carried out seamlessly.
What Constitutes a Digital Asset?
Digital assets encompass a wide array of virtual items and accounts with sentimental or financial value. Common examples include:
- Online financial accounts (banking, investments, etc.)
- Cryptocurrency wallets and digital currency holdings
- Email accounts and cloud storage
- Social media profiles and blogs
- Domain names and websites
- Online businesses or e-commerce stores
- Digital media libraries (e-books, music, movies)
The Importance of Digital Asset Planning
Without proper planning, your digital assets could become inaccessible or mishandled after your passing, leading to financial losses, identity theft risks, and the potential erasure of cherished online memories and presences.
Fortunately, both Minnesota and Florida have adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), providing legal guidelines for managing digital assets within estate plans.
Steps to Incorporate Digital Assets into Your Estate Plan
1. Inventory all digital assets and associated login credentials
2. Designate a tech-savvy digital executor or trustee
3. Clearly outline your wishes for each asset (transfer, memorialization, deletion)
4. Store access information securely, updating it regularly
5. Consult an experienced estate planning attorney
6. Make sure your estate planning documents authorize your family to access your digital assets
At Roulet Law Firm, P.A., we incorporate comprehensive digital asset provisions into our clients' financial powers of attorney and trusts, ensuring authorized access and proper management according to their wishes.
Why Choose Roulet Law Firm, P.A.?
With convenient office locations in Minnetonka, MN, and Venice, FL, our team provides personalized guidance tailored to your unique needs and circumstances. If you would like help in creating or updating a comprehensive estate plan to make it as easy and inexpensive as possible for your family to manage your affairs if something were to happen to you, call us today at either 763-420-5087 for our Minnesota office or at 941-909-4644 for our Florida office to schedule a consultation. Or, you can fill out the contact form on this page and a member of our team will reach out to you to schedule your consultation.
And if you are not yeat ready to schedule a meeting and would like additional information, Click Here for our free online masterclass where we reveal strategies for your will, trust, financial powers of attorney and health care documents as well as strategies for saving taxes and protecting the money you leave for your children and grandchildren in the event they get divorced, get sued or have an unforseen even in their lives. You've worked hard for wht you have, we can help you protect it and ensure it only goes to the people you want to receive it.
