The fastest changing industry today is technology. Due to advancements in technology and living in a digital age, many people in Coral Gables, and around the country, own increasingly more digital assets. These assets have a great deal of value to people. When you think about who you want to leave your house, money, and other assets to after your death, you also need to think about what will happen to your digital assets during probate.
Attorney Ana M. Veliz is a respected estate planning attorney who has been local to Coral Gables for years, knows the legal community, and could help you navigate the complicated process of estate planning to prepare for the future.
Unlike other types of assets which have tangible forms (meaning you can see and touch them), digital assets primarily exist online. Digital assets consist of electronic records, data, and accounts, and depending on the type of digital asset, people can buy, sell, manage, or control them online.
Digital assets can have monetary or sentimental value. Common examples of digital assets that individuals in Coral Gables might possess include:
These types of assets can be difficult for a decedent’s heirs to access after the owner passes away. They might not even know about them. Sentimentally, family members could potentially lose access to decades of old photographs stored online. Financially, family members could lose access to hard-earned money because they do not know how to log in to the accounts and access the funds. Without clear directives in an estate plan, a decedent’s heirs might never be able to recover many of these assets.
With the assistance of a local attorney, an individual can protect their digital assets and determine what happens to them after their death.
Veliz & Associates, P.A. could help an individual in Coral Gables incorporate their digital assets into their estate plan. The first task is to create an inventory of the assets and establish a secure record of all those assets in one place, listing the account information, passwords, and other access information.
A lawyer could work with the individual to determine what they want to do with each of their digital assets. They might decide that some assets, such as their LinkedIn, Facebook, or Instagram account, should simply be deleted soon after their death. They might want to leave other digital assets, such as bank accounts and digital photographs, to specific family members to access and use. Something like cryptocurrency may require more preparation and legal work. A trusted legal team could help an individual determine the best method for handling their digital assets, which could be in the form of a trust that specifically details their wishes.
Digital assets have value to you during your lifetime and will likely have value to your family after your death. Handling digital assets in Coral Gables is something that you need to consider when thinking about your estate plan. Call Attorney Ana. M. Veliz to set up a preliminary strategy session where you can begin learning how to protect your digital assets and prepare for the distribution at a later point.
We evaluate your case and determine how we might be able to help.
We will meet with you to discuss your next options and lay out a plan.
Our team guides you throughout the process so you feel confident about your choices.
(305) 250-9917