Planning for Digital Assets

As the world becomes more reliant on technology, more and more people spend a good portion of their lives online. From paying bills to sending emails and using social media for all types of reasons, have you ever thought what will happen to these accounts when you pass away or become incapacitated?

At Levitt, Lightman, Dewar & Graham, LLP, we have been helping people in the Greater Toronto Area with estate planning and administration for more than 50 years. We consistently stay at the forefront regarding when it comes to being a full-service firm that offers comprehensive services that meet all of our clients' needs.

To learn more about how our firm can help you, we encourage you to contact Levitt, Lightman, Dewar & Graham, LLP, today to schedule a consultation at our Etobicoke office.

Just Like Financial Planning, Having a Digital Asset Plan Is Essential in Today's World

Just like part of a comprehensive estate plan includes the need for detailed financial planning, there is also a need to set up a plan for how to handle all of your digital assets such as:

  • Bank accounts
  • Online brokerage accounts
  • Email accounts
  • Facebook
  • LinkedIn
  • Twitter
  • Photo storage sites
  • Cloud and other online storage web sites
  • Other active accounts such as Amazon

We can help you draft and execute a document that specifies who will have access to these accounts and what should be done with them. The document may contain all of the password information for each account or direct this representative to where this data can be found.

Planning for digital assets protection and deactivation is crucial. Having the correct information stored in a safe place can help family members access bank and other accounts to pay out beneficiaries. Logging into social media can help notify family and friends of a loved one's passing and funeral arrangements. Shutting down other accounts can prevent hacking and preserve important information that may be needed in the future.

Additionally, by having all of this pertinent information in one place, it can save a lot of time and prevent the hassle of trying to convince different sites of the need to access someone else's account. This can not only prevent a lot of stress, time and conflict, but it can create much-needed peace of mind knowing that your digital profile will be handled properly and your family will have access to things like all of your photos.

To learn more about how we can help you with digital asset planning, contact Levitt, Lightman, Dewar & Graham, LLP, today for a consultation with an experienced Toronto estate planning and administration lawyer.