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Considering your digital assets when making estate plans

Like so many people, Houston residents likely spend a lot of time online. Whether it's checking bank accounts or browsing Facebook, so much of our lives exist online. As people are perusing their online accounts they may not think about what will happen to them when they die. However, people in Texas and beyond should take the time to make plans for their digital assets.

As many Houston residents already know, estate planning is about preparing for the future and protecting important assets. People who take the time to create estate plans can rest easy that their family members will be taken care of when they are gone. In addition, family members can be reassured that they won't become embroiled in lengthy legal disputes.

However, because of the changing world we live in, people should make sure they have also considered their digital assets. To start with, people in Houston and others living elsewhere would be wise to make a list of their online accounts with corresponding passwords. It may be best to put one person in charge of those accounts.

Estate planning for digital assets is a new concept and one that will likely continue to evolve. Because there are a lot of unknowns when it comes to estate planning for digital assets it may be best to consult with an attorney who has a broad understanding of the estate planning process. An attorney can help people sort through more traditional estate planning matters as well as help them protect their digital assets.

Source: nwi.com, "Estate Planning: Estate planning for digital assets, part two," Christopher W. Yugo, April 6, 2013

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