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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: Virtual Assets

    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
    Journal
    titled “With Estate Planning, Don’t Forget Virtual
    Assets
    .” Both are worthy of your
    attention.

    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.

    Reference:

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

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




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