What’s going to happen to your Facebook account when you die? Or all the songs you’ve downloaded from iTunes?
As digital assets become more common for all of us, it’s important to incorporate them into estate plans. Unfortunately, as was recently explored in a Denver Business Journal article featuring WealthCounsel, that’s not always easy to do.
According to a 2013 McAfee study, the average person has roughly $35,000 worth of assets stored on digital devices. That value includes purchased movies, books, music and games as well as personal memories, communications, personal records, hobbies and career information. Of those surveyed by the study, 55 percent said they store assets that would be impossible to recreate, re-download or repurchase.