Digital Asset Planning Attorney In Minnesota
Much of what you own and use today exists online. Digital assets can include financial accounts, business interests, personal records and family memories. Planning for what happens to these assets after your death is an important part of estate planning.
At Andy Gregory Law, PLLC, attorney Andy Gregory takes a personalized, hands-on approach to estate planning. As a solo practitioner, Andy works directly with each client to understand their goals and create a plan tailored to their circumstances. His approach emphasizes clear communication and thoughtful planning that considers both current needs and potential issues that may arise in the future.
Types Of Digital Assets
Digital assets can take many forms. When reviewing your estate plan, consider the accounts, property and files you use or manage.
- Email accounts: Email may contain financial records, personal messages, receipts, account details and other important information. Consider which accounts you have and what should happen to the information they contain.
- Cryptocurrency: Cryptocurrency may have financial value and may require careful planning. Identify your holdings and consider how an authorized person could locate and manage them as part of your estate plan.
- Online stores and digital businesses: An online store or other digital business account may generate income or represent a valuable business interest. Consider how you want to address ownership, access and management if you can no longer manage the business.
- Social media accounts: Social media accounts may contain photos, messages and other personal information. Consider whether you want an account to remain active, be closed or follow another plan and record your wishes.
- Personal digital files: Personal digital files may include photos, videos, documents and other material with financial, practical or sentimental value. Identify where you store important files and decide how you want to handle them.
These are just a few examples of digital assets that may need a place in your estate plan. Our estate planning lawyer takes a personalized approach to helping clients identify these assets and consider how they should fit into their overall estate plan.
Why Include Digital Assets In An Estate Plan?
Passing digital assets on after death can be more complicated than passing on physical property. Family members may not know which accounts exist, how to access them or what you wanted to happen to each one. Different platforms may also have rules that affect how an account or digital asset can be accessed or managed after the owner dies.
Minnesota law provides ways for users to give directions concerning access to digital assets through certain online tools or, when applicable, through a will, trust, power of attorney or other record. These directions can give the people handling your estate clearer guidance about your wishes.
Talk With An Estate Planning Attorney About Digital Assets
Digital assets can be easy to overlook when creating an estate plan, especially when they are spread across different accounts and platforms. Andy Gregory Law, PLLC, takes a personalized approach to estate planning and works directly with clients to create plans based on their individual goals and circumstances.
Call 612-778-0759 or contact us online to discuss how digital assets fit into your estate plan.