Some Virginia residents may have a variety of digital assets that need to be accounted for in an estate plan. Anything from a PayPal account to a social media page could be included in a will or other document. In most cases, a digital will is an informal item that contains information that surviving friends and family members might need. To start, an individual should make a list of all the digital assets that he or she has.
An executor can be appointed to carry out any wishes an estate owner has for digital assets. For instance, it may be the executor’s responsibility to make sure that a social media page is memorialized or that pictures are saved for loved ones to keep. It can be beneficial to name more than one executor just to be safe. If the digital will itself is kept online, be sure to leave instructions on how to find and access it.
It is important to make sure that assets can legally be transferred. For instance, songs created by other artists may only be available under a license granted to the person who purchases a download. Obtaining a basic knowledge of the Uniform Fiduciary Access to Digital Assets Act can also be helpful. This may prevent issues related to executors being granted access to items held online.
A Virginia resident may wish to hire an attorney to draw up a will, digital will or other estate plan document. Doing so could make it possible to draft a document in a clear and concise manner. Legal counsel may also help create a way for the document to be easily found yet kept secure until it is needed. If necessary, an attorney may act as the executor to an estate.
