Ahoy there, fellow Californians, estate planning enthusiasts, and everyone who’s setting sail in the sea of life! I’m your friendly neighborhood lawyer, seasoned sailor of the legal seas, ready to guide you through the complex currents of estate planning. Today, we’re going to chart a course through a unique and often overlooked part of our modern lives: digital assets.

Picture this for a moment: you’re out on the Pacific, the sun is setting, and the salty sea breeze is in your hair. You’re sailing the digital sea too – emails, online banking, social media, digital photos, eBooks, crypto wallets – the list sails on. But have you ever paused to ponder: what happens to your digital life when you finally dock your ship for good?

The truth is, digital assets can be as valuable, if not more so, than some of your tangible assets. They represent you, your life, your achievements, your memories, and sometimes, your treasure. Let’s set sail into how you can include these assets in your estate planning.

Port of Call: Understanding Digital Assets

Digital assets are pretty much anything that exists in a binary format and comes with the right to use. They can include anything from your Instagram account to your digital music library, from your eBook collections to your Bitcoin stash.

And yes, they hold value. Emotional value, like your digital photo albums or social media profiles, and monetary value, like digital wallets and online businesses. So, like any other asset you own, they should have a berth in your will or trust.

Casting Off: Catalog Your Digital Assets

The first step in this digital voyage is to catalog all of your digital assets. Grab your digital compass, embark on the journey, and take a good look around. Your email accounts, social media profiles, digital photos, blogs, domain names, digital currencies, and online storage accounts – they all count.

Create a secure document, whether digitally encrypted or good old-fashioned pen and paper, listing out all these assets along with relevant details like usernames, passwords, and security questions.

Cruising Speed: Assigning Your Digital Assets

Next up, you need to decide who will inherit these digital treasures. This might be straightforward for some assets, like your digital family photos going to your kids, but less obvious for things like your cryptocurrency or domain names.

The Turnabout: Legal Considerations

The law is trying to keep up with the digital tide, but there’s still a lot of uncharted waters. The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) has been adopted by most states, including California, and it allows you to give fiduciaries access to your digital assets.

However, each platform may have its own rules. For instance, Facebook allows you to designate a “Legacy Contact” who can manage your account after your demise. Google has a similar feature, known as “Inactive Account Manager”. Take some time to understand these policies, and incorporate them into your plan.

Anchors Aweigh: Get Legal Help

Handling digital assets in estate planning can be as complex as navigating a stormy sea. But don’t abandon ship just yet. The California sun is shining, the sea is calm, and help is just a message in a bottle away.

At Thatcher | Law, we are here to help guide you through the tricky tides of digital estate planning. So, whether you’re a digital explorer with multiple blogs and crypto investments or a traditionalist with a handful of email accounts and digital photos, we’ve got you covered.

Set sail with us on the voyage of digital assets, secure in the knowledge that your digital legacy is in safe hands. After all, life is an ocean, so navigate it with style and assurance! Drop us a line, and let’s chart a course together.

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The contents of this article are intended to convey general information only and not to provide legal advice or opinions. Consult with a professional estate planning attorney to discuss your individual situation.