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Addressing digital assets during estate planning may be wise

In more recent years, most people have become accustomed to sharing various aspects of their lives online. Whether they are posting photos on social media, sending emails or dealing with online banking, much of life now takes place on the web. Because of this development, some Oklahoma residents may have concerns regarding how these accounts and assets will be addressed after their deaths. Luckily, estate planning may be able to help.

The importance of online life has grown for most people. Due to this growth and the substantial amount of data being created, legal professionals have found it prudent to have individuals address their digital assets when creating their estate plans. Most states have adopted a law that would allow individuals to indicate in their wills that their executors should gain access to certain online accounts.

Though this law may prove helpful, there are still details missing as to how exactly an executor could gain access to accounts. As of now, an executor must speak with the company that runs the site on which the account is held and work to gain access. Oklahoma is among the few states left considering whether to enact this law.

By addressing digital assets when estate planning, individuals may give their surviving loved ones less to worry about after their passing. If Oklahoma residents are uncertain as to how to potentially address these assets, they may wish to speak with experienced attorneys. Additionally, they may also want to discuss their wishes with their family members to determine who may have access to digital accounts.

Source: theconversation.com, "Estate planning for your digital assets", Natalie Banta, Feb. 7, 2018

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