As digital assets like social media profiles and cryptocurrency become more common, it is becoming more important to make arrangements for them in an estate plan. Illinois actually has laws that specifically address digital assets, but it is a fairly new aspect of estate planning. Many people fail to consider their digital portfolio, and this can create problems if beneficiaries cannot access online accounts or property. If you want to include your digital assets in your estate plans, speak with a knowledgeable Lombard, IL lawyer who can explain your options and offer relevant guidance.
What Are Digital Assets?
Any type of online property or content that someone owns or controls is considered a digital asset. Some of these are quite valuable. Common examples of digital assets include:
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Online accounts: Social media profiles, email accounts, and cloud storage accounts that could include personal files, photos, and documents are all digital assets that you can bestow on a beneficiary in your estate plan.