What will happen to your Facebook account when you die? Or to the books, music, movies, and games you’ve purchased online? As our lives move further into the digital realm, it’s essential to account for these assets in your estate plan. The value can be financial and deeply personal: from digital currency...
Category: Digital Estate Planning
Wisconsin Estate Planning: How are digital assets dealt with in a Revocable Living Trust in Wisconsin?
Digital assets can and should be addressed in a Wisconsin revocable living trust, but a trust by itself does not automatically give a trustee access to all online accounts. Access is governed by a combination of trust language, Wisconsin law, federal privacy laws, and the terms of service of the platforms that...
Wisconsin Estate Planning: How Can You Prevent your Digital Assets from being Locked-out After Death?
Preventing digital lockouts after death in Wisconsin starts with creating and maintaining a secure, up‑to‑date inventory of your online accounts and access information—without putting passwords directly into your will, which can become part of the public record. Keep credentials in a password manager vault, an encrypted document, or a physical list stored...
Ask Your Loved Ones What They Want
The holiday season is right around the corner, and you have likely been shopping for the perfect gifts for your loved ones. You may have been wandering through crowded stores, scrolling through online marketplaces, or replaying conversations you have had with your loved ones over the past few months, trying to recall...
Do I Need a Will or a Trust?
Yes, everyone needs a will, a trust, or both. These important tools ensure that your legacy will be carried out according to your wishes and allow you to provide for loved ones after your passing. A properly prepared trust can also help avoid probate, which is a lengthy, public, and often expensive...
Bills and Services to Cancel—and Keep—When a Loved One Dies
A loved one’s passing is challenging on many different levels. In addition to the emotional difficulty of processing someone’s death, there are also the many tasks that must be dealt with, such as going through their various accounts and taking the necessary steps to cancel them or transfer ownership.
What Happens to Your Venmo, PayPal, and Apple Pay Accounts at Your Death?
It has been said that nothing ever dies on the Internet. While this dictum is typically used as a warning that what we put online may come back to haunt us, it is also true that our online accounts can outlive us, and even live in perpetuity. Having a digital estate plan...
Cryptocurrency and Your Estate Plan
Cryptocurrency’s popularity has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan.
Beware of the Tax Consequences
Transferring your cryptocurrency to other people, either during life or...
What to Know about Nonfungible Tokens
A nonfungible token (NFT) is a unique digital code that represents a digital item such as art or music, as well as a growing number of physical items, that runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger) and provides proof of ownership of virtual collectibles. That explanation may cause confusion,...
Digital Afterlife- An Estate Plan For Your Facebook Account
Did you ever wonder what happens to your digital footprint when you pass away? Well you should, particularly if you are part of the 77 percent of Americans who go online every day. As the internet has become more of an integral part of our lives, our information --...