When you are engaged in the process of estate planning, you should consider all of the smaller details. Executing legal documents is the obvious part, but you have to be aware of the process of estate administration. Someone is going to have to attend to the details, and this person is going to need a good bit of relevant information.
Some things are relatively obvious. You have to give your estate administrator access to hard copy documents that are going to be relevant to the process, so you should provide access to these documents.
The keys to vehicles and real property should be available to the estate administrator, and you should inform the estate administrator about any storage spaces that you may have.
Many people conduct a lot of business on the Internet, and we socialize online in various ways. As a result, digital estate planning has entered the picture.
In the past, to pass along relevant financial account information to your estate representative, you would provide access to a filing cabinet or a lock box. These days, you may have to provide access to the financial accounts that you manage online.
Digital real estate is another facet to address. Many people have personal blogs, and you may have websites as well that may or may not produce income. You should leave behind instructions with regard to how you want this digital property handled after you are gone.
The same thing is true of your social network accounts. Most people have a Facebook account, and if you are one of them, it could be memorialized. When an account is memorialized, existing friends can still post on the wall to reminisce, but there would be no further posts in your name.
These are a few general things to consider when you are planning your estate in the digital age.
Further Your Knowledge
We have shared a bit of food for thought in this blog post, but we also provide access to in-depth information about many different estate planning and elder law topics. Our firm has developed a rather extensive electronic library, and it contains a series of special reports. These comprehensive reports are free to our readers, and you can access any or all of the reports through this website.
To browse the list of titles, visit this page: Free Estate Planning and Elder Law Reports.
Take the Next Step
Estate planning is a core responsibility of adulthood, and you should also take steps to prepare for the eventualities of aging if you want to be secure during your elder years.
If you would like to discuss the future with an estate planning attorney, our firm can help. We offer free consultations, and you can send us a message through our contact page to set up an appointment: Indianapolis IN Estate Planning Attorneys.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.