This is a growing area of concern for our clients when they are setting up their estate plans. People are doing a lot of business online these days. Many of us conduct part of our social lives on the Internet as well. These realities enter into the subject of estate planning and you would do well to ask yourself how your online accounts will be handled in the event of your death.
You may manage your bank accounts and even your brokerage accounts over the Internet. If this is the case, you are going to want to make sure your estate administrator is aware of the existence of these accounts because statements are sometimes issued electronically.
In addition to the above, paperless billing is becoming very common among credit card companies and other creditors. Your estate administrator is going to have to take care of your final expenses so he or she has to be aware of your accounts that are billed in a paperless manner.
Social network identities are a factor to take into consideration as well. When it comes to Facebook, your representative can contact their support desk and request that your account be memorialized.
When this is done, your family members and friends can still post on your wall, but your personal information is kept confidential and your status updates are removed. You do not come up in searches, and you are not suggested as a possible friend.
Estate planning in the digital age requires an added degree of attention to detail. The best way to proceed is to work with a good Oklahoma City estate planning lawyer who has a firm handle on the way that the Internet is used during our current era.
Larry Parman
Author, President and Founding Attorney
Parman & Easterday
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