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    Joshua and Laura Meier Newport Beach Trust and Estate Planning Attorneys Focused on Helping Families with Young Kids
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    Category Archives: Digital Assets

    Digital Assets, Digital Estate Planning – What Newport Beach Families Need To Know About Their Passwords

    If you inadvertently lock out your executor
    or the very person who has power of attorney over your finances, you can create
    a huge hassle for your family just trying to pay your bills.  Since we now live in a paperless world, they
    need something important – your passwords.

    Computer with LockWe live in a digital world. This
    is a world void of paper but steeped with overflowing information.
    Nevertheless, we still tend to think of assets in terms of “real things” that
    can be printed on paper or locked in a safety deposit box.

    So, have you planned your estate
    to account for your “digital assets”?

    If you have not, then you are
    leaving a big estate mess for your loved ones to clean up. This was the subject
    of a recent Forbes article titled “You Just Locked Out Your Executor And Made
    Your Estate Planning A Monumental Hassle

    The original article offers an
    expansive look at all of the digital assets to consider, as well as many ways
    making your assets “digital” can be helpful. Here’s the most important warning
    from the article: to enable your beneficiaries and your executors to secure
    your digital assets and square away everything from bank accounts to twitter
    accounts, you must provide your passwords. Thereafter, the sky is the limit!

    If you are a tech-savvy, then
    likely you can think of new ways to make technology work for you. For example,
    there are new services that even allow you to store your living will online,
    providing easy access by your doctors. Furthermore, even simple data storage
    capabilities become meaningful when you realize that the entire family photo
    collection can be turned into something every family member can “hold” and view
    with pleasure on demand – once it’s digitized.

    Whether you’re tech-savvy or
    not, your digital well-being ought be secured and even leveraged if you make
    proper plans and take advantage of the evolving technology.

    Contact your Newport Beach estate planning attorneys at Meier
    Law Firm to discuss all of your estate planning needs

    Reference: Forbes (October
    18, 2012) “You Just Locked Out Your Executor And Made
    Your Estate Planning A Monumental Hassle

    Have You Protected Your “Virtual” Property?

    Estate planners say few, if any, of their clients consider digital
    assets in their wills—an oversight that can result in real-world losses to
    beneficiaries. And experts say the estate-planning industry itself has been
    slow to adopt standards for dealing with the sort of "property" that
    may exist only in cyberspace.

    The digital revolution has meant
    that we don’t live like we used to – most of us can’t live outside of a Wi-Fi
    hotspot, 4G network, or computer screen for longer than a couple hours. So how
    could we possibly plan for our estate today, as they used to before everything
    became virtual?

    Dealing with digital assets can
    be a tricky business, often in ways that aren’t readily apparent. Nevertheless,
    digital assets are both vital and newsworthy topics for estate planning. For
    example, consider an article by SmartMoney
    titled “Protecting You Virtual Estate” and
    the similar article by The Wall Street
    titled “With Estate Planning, Don’t Forget Virtual
    .” Both are worthy of your

    Digital assets can range from
    personal data held in social websites to intellectual property, or even domain
    names. Then again and more importantly, a growing majority of people do their
    banking, investing, and tax-paying online. Is this starting to hit closer to
    home now?

    Some aspects of our digital
    lives simply need real world planning, especially because few states have laws
    in place to account for the postmortem transfer of digital assets. Even if
    you’re not a tech guru with websites and special online projects, you wouldn’t
    want valuable information to be lost to your heirs.

    If you have a digital presence,
    then you must plan accordingly.

    Contact Meier Law Firm to learn how you can protect all of your assets, including your digital ones.


    (July 25, 2012), “Protecting You Virtual Estate

    Wall Street Journal
    (July 28, 2012) “With Estate Planning, Don’t Forget Virtual

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