Digital Estate Planning Is Important In Florida
July 30, 2013
With the advent of technology, people’s lives have become in many ways more efficient. The Internet was especially instrumental in taking society to the next level of convenience, enabling people to pay their bills online and allowing instant communication in a variety of different forms and mediums. However, despite the conveniences of the online world, this new technology has also created a whole new type of estate planning need which did not exist before in Florida or any other state.
When a person dies, his or her online persona does not necessarily cease to exist. Many online accounts such as social media accounts and financial accounts continue to carry on automatically. This could include automatic payments or bill pays from bank accounts and credit cards. Therefore, one’s estate plan should likely implement plans on how to manage one’s online information and accounts.
One of the first things that should be done is to choose a digital executor, who will usually be the same person that is the executor of the rest of one’s traditional estate. Another step is to create a list of online accounts, online services and websites. It can be important to ensure that the executor is given access to these online accounts, including passwords and security answers. Also, individuals should try to update this information as it changes.
In order to make sure that a plan for online information is implemented, it will be necessary to create the proper legal document, such as a last will and testament. There are a variety of other useful legal documents which are commonly used in Florida. However, each situation is different and it is best to have a strong understanding of applicable estate planning laws in order to make the right decisions.