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Don’t overlook online accounts when estate planning

On Behalf of | Dec 7, 2020 | Estate planning

When many Georgia residents think about getting their affairs in order, they may immediately think about tangible assets and money. However, much of many people’s lives now revolve around online accounts, and it is important that those assets are not forgotten when estate planning. If individuals do not address these accounts, they could put their loved ones in a difficult spot later on.

Though online financial accounts are important to consider, parties should not overlook their other accounts, including those relating to social media. Many people may only use social media platforms for fun or to keep up with friends and family, but it is still crucial for individuals to leave information about and access to those accounts to their loved ones. Without permission or passwords, some sites could keep family members locked out.

In efforts to avoid such a predicament, it may be wise for parties to create an inventory of their online accounts. This inventory can include the websites where the accounts are held, the username associated with each account and the passwords used. This could give the appropriate family members quick access to these accounts if needed in the future. The inventory can be given to a trusted person so that it could be easily found.

If digital assets or online accounts are not included when estate planning, surviving loved ones may have to go through additional difficult steps to obtain those assets. Instead, Georgia residents may want to plan ahead and learn how they can best account for their digital assets in their plans. Fortunately, knowledgeable attorneys could help interested parties gain information on their planning options in regard to online accounts.