Experienced, Reputable Denver Lawyers

Experienced, Reputable Denver Lawyers

Attorneys at Beem & Isley P.C.

Estate planning and digital assets

On Behalf of | Dec 4, 2022 | Estate Planning And Probate

There may be many individuals who accumulate various types and amounts of assets over time, some of which may be tangible possessions while others may be of a more digital nature. Individuals in Colorado who wish to create a strategy to help preserve their interests and wealth may have questions about how to incorporate their digital assets into the equation. Knowing what might constitute digital assets may help individuals better prepare to create a thorough estate plan that focuses on their preferences and needs for the future. 

Types of digital assets 

There are various types of digital assets and many individuals may consider some of these items to be invaluable in nature. Photo albums and family videos stored via online outlets are common examples of digital possessions a person may wish to preserve and pass on to loved ones. There may also be many who have rights to digital music and art collections and feel it integral to include these items in their estate planning goals. 

Online content such as website domain names and video channels and online currencies such as bitcoin are also types of digital assets one might consider including in future strategies. Along with identifying digital assets, it may also be helpful to address topics such as how to protect information while providing beneficiaries with access to account passwords when the time comes. One could also consider seeking insight on ways to protect digital wealth by creating backups of data and being thorough when setting forth terms on what will happen to these assets after a person passes on. 

Including digital assets in an estate plan 

There may be many individuals in Colorado who have digital assets and remain uncertain of how best to include these items in their estate planning goals. Fortunately, there are attorneys who can evaluate a person’s questions and concerns and provide insight into exploring all his or her available options. Such guidance may be essential to helping a person prepare to approach the future with confidence by developing an estate plan that focuses on his or her interests and wishes.