Estate planning is not just for mapping out the passing of property and physical assets anymore. There’s a new type of asset to worry about and almost everyone has them: your digital assets.
One of the most familiar tools commonly used for estate planning is a last will and testament. Typically, a will is drafted to indicate how a person would like things to be handled at his or her death. While a will is a tool that addresses physical assets (like your investment account, cash in the bank or your house), it is currently not being widely used to address assets that are digital. (Self serving note: Every will that I prepare includes a provision for digital assets and authorizes your executor to close or suspend social media accounts.)
Source/more: Market Watch
via NAELA.org enews