Begin with Identifying What Virtual Accounts You Own and Wilson C. Pasley, PLC
The role of digital assets in Virginia estate planning starts with recognizing which digital accounts, files, and currencies hold value. This month, Wilson C. Pasley, PLC Attorney at Law in Roanoke reviews ways to identify and protect online and virtual assets. Online banking, social media, email, and cryptocurrency are just a few examples.
Without clear instructions in an estate plan, loved ones may struggle to access or manage these virtual accounts. Virginia law now recognizes digital assets, making it easier to include them in your estate planning documents. Failing to account for these assets can lead to financial loss, identity theft, or even permanent inaccessibility for your family.
Why You Need a Digital Estate Plan to Protect Online Accounts
A well-structured digital estate plan ensures that online accounts remain secure and accessible to the right people. Without proper planning, your family may lose access to sentimental or financial assets stored in cloud services. Many platforms restrict access unless the owner provides explicit authorization in legal documents.
Naming a digital executor and listing login credentials can prevent major headaches for your heirs. It’s also essential to outline specific wishes for digital content, including social media accounts, online photos, and personal blogs, so they are handled according to your preferences.
Legal Tools in Virginia to Secure Your Digital Legacy
Virginia’s Revised Uniform Fiduciary Access to Digital Assets Act allows estate representatives to manage digital assets with permission. A will, trust, or power of attorney can include provisions granting access to these accounts. Without these legal tools, companies may deny access, leaving important information locked away.
Working with an estate planning attorney can ensure the proper accounting and smooth transfer of digital property. Much like tangible property, you may wish to specify the deletion, transfer, or preservation of digital assets. Planning ahead can prevent confusion and legal disputes among family members.
Act Now with Wilson C. Pasley, PLC Attorney at Law to Avoid Disputes
Creating a digital estate plan today can save your loved ones significant stress and confusion in the future. Securely storing account information, using encrypted password managers, and updating estate planning documents regularly are critical steps. Consulting an experienced Virginia estate planning attorney like Wilson C. Pasley, PLC helps to properly manage your digital legacy.
Attorney Wilson C. Pasley PLC of Roanoke, VA, offers services for wills, trusts, and estates, guiding you every step of the way. Call (540) 266-1545 or visit us on Facebook. We can help you avoid disputes and complications for your loved ones regarding the role digital assets in Virginia estate planning.
