You likely understand that you should include your online assets in your estate plan. One possible problem is that you might neglect one or more of your digital assets while planning for your estate. It is natural to think some of your digital accounts are not worth anything, but the truth is that some of those assets may contain value and you do not even know it.
According to Forbes, there are some digital assets that any person should address in their estate plans. The article explains the potential value in these assets and how they may be of benefit.
Online payment services
The importance of your bank account makes it easy to remember to put into your estate plans. However, if you use an online payment service to transfer funds to and from your bank account, you should also include it as part of your estate plan. Since your payment service is also a financial account, you may have some funds stored within it at the time of your death that your children could inherit.
Online rewards programs
Nowadays, companies offer online rewards programs to customers who buy their goods and services online. Companies use these programs to entice customers to continue purchasing from them in exchange for various rewards, such as points that the customer can redeem for purchases or goods, or discounts on future purchases. The value in these rewards programs should merit inclusion in an estate plan as they may benefit your children or your other heirs.
Social media communications
Many people today use different kinds of social media. On average, a person may utilize five different social media accounts on a regular basis. Some people even manage to monetize their social media. In general, most social media accounts do not produce any monetary value. Nonetheless, including these accounts in your estate plan is important so that your heirs have control over past messages you have sent through your social media.