Galloway and Collens, PLLC
248-397-5507
248-397-5507

Michigan families should include digital assets in a will

When people consider estate planning and ensuring the proper distribution of personal property, most may only think about physical property. However, digital assets are also part of many Michigan estates in current times. These issues can typically be addressed by specific provisions within a last will and testament.

Digital assets can be highly personal, just as many physical items may be. For example, files on devices may contain photographs and videos considered irreplaceable. Personal documents may also be found online, and the fate of those documents can be just as important as vital physical documents. Social media accounts also hold a great deal of personal information and value for individuals. A plan for these accounts can be outlined in a will.

There may be monetary value in some digital property, which makes a solid plan for these assets an absolute must. E-commerce sites that are used frequently can have valuable bank account information or be the source of automatic withdrawals from a bank account. Reward programs or intellectual property may all exist in cyberspace and have a great of monetary value.

The decision as to what to do with digital assets and the location of passwords can quickly become complicated. While simply relaying wishes may be tempting for some in Michigan, outlining specific instructions for these accounts and property in a will can ensure a clear and proper management of digital assets. Our website has more information about digital assets in general and how a will can be a useful tool for dealing with personal items and accounts.

No Comments

Leave a comment
Comment Information
  • dbusiness - 2016 Top Lawyers
  • dbusiness - Top Lawyers
  • Lead Counsel Rated Attorney
  • Senior & Caregiver
  • American Appartment Owners Association - Member since 2015
  • Same Address
  • ICLE Contributor
Email Us For A Response

Contact Our Metro Detroit Attorneys

Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC, by calling 248-397-5507.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

26075 Woodward Avenue Suite 200 Huntington Woods, MI 48070-1341 Toll Free: 888-349-0309 Phone: 248-397-5507 Fax: 248-545-2520 Huntington Woods Law Office Map