COVID-19 Update: How We Are Serving and Protecting Our Clients

CORONAVIRUS AND YOUR DIGITAL ASSETS

By Lane V. Erickson, Idaho Estate Planning Attorney

Every client I talk to has questions about how the Coronavirus is affecting their lives and what they can do about it. This is especially true when it comes to either completing or updating their estate plan.

We encourage you to download our Estate Planning Questionnaire which is a simple document you can type into on your computer and save. Our clients tell us the Questionnaire made the process of gathering information simple and easy. Once this is done, we provide a free 30-minute consultation to discuss the information on the questionnaire and to answer questions about estate planning. Our goal is to help our clients understand the options and choices they have for their own estate plan.

We don’t charge for any of this because we want our clients to understand exactly how their estate plan will help them before they make any commitments to hire us. We encourage you to call us for this free 30-minute consultation.

In addition to having regular assets that you need to plan for through your estate planning documents, you will likely also have digital assets to take care of too. These digital assets include your email, Facebook, Instagram, YouTube, LinkedIn, and Twitter accounts. Digital assets also include your online or digital money accounts as well, such as PayPal, Venmo, peer-to-peer lending, and so forth. While talking about accounts, be sure to not forget your regular investment accounts, banking accounts, and so forth that you access digitally through your computer or phone.

But this is not all. You might also have online businesses that you operate. You could also have other accounts you use to buy or purchase things such as at Amazon, Walmart, or other online retailers.

We still aren’t done.  Your list of digital assets will also likely include accounts for streaming video, music, and other entertainment. These accounts are usually set up so that payments are made automatically for the credit card, or from some other account.

All of the digital assets that you have will need to be taken care of while you are alive if you cannot do it yourself, and, after your death. Unless you have all these things organized in a place where your family can find them and understand them, and log into them so they can access them, your family may have no idea that these assets even exist.

Do your basic estate planning, you can nominate someone who can take care of all of your digital assets if you are suddenly unable to do it for yourself while you are alive. Additionally, these digital assets should be passed on to your family members and loved ones after you die. Your basic estate planning documents allow you to do this.

Yes, the coronavirus has impacted our lives greatly. This should be a wake-up call, and a warning to each of us of the importance of taking the steps mentioned in this article so that we are prepared and ready for any circumstance. We have helped numerous clients complete their basic estate planning which includes a last will and testament, a durable power of attorney, a living will, and a power of attorney for health care. You may also need to include a trust or a variety of trusts as part of your estate planning if you have young children, or a child with a disability, or a family member that you want to provide for and take care of without giving something directly to them.

We are ready to help you. Contact us today!

ENLIST AN IDAHO ESTATE PLANNING ATTORNEY TO HELP YOU

If you have any questions about your estate or how to simplify your plans for your family and loved ones, we can help.  Call us toll free at 877-232-6101 or 208-232-6101 for a free consultation with Lane Erickson and the Racine Olson team of Estate Planning attorneys in Pocatello. You can also email Lane Erickson directly at lane@racineolson.com. We will answer your questions and will help you solve your Pocatello Estate Planning problems. I have helped numerous clients create their own customized estate plans and I’m confident that I can help you too!

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