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Does Your Avatar have a Will?
By: Alex
M. Rechenmacher
At
a time when the generation that brought you the personal computer moves on to
retirement, for the first time, people are beginning to wonder what will happen
to their “digital estate” when they pass on. Many of us take several
precautions to restrict access to our computer accounts, from the computer’s
“log on screen”, to our Facebook accounts and establishing usernames and
passwords to conduct online banking. All those precautions provide us with
the sense of security in knowing that our digital presence is well protected.
But what happens to these accounts if you end up in a hospital or die without
leaving someone a “key” to unlock them?
Most
already know the importance of an estate plan which will allow your loved one
the ability to make healthcare decisions or manage your property in the event
that you are no longer able to do so. Making your intentions clear through
the use of a Will, Trust or Power of Attorney avoids confusion and reduces the
chance of disputes which could cost both time and legal fees. But while
few people take the time to make their wishes clear, even fewer consider what
will happen to their online ‘presence’.
Of
course, planning for these events goes beyond simply deciding who will receive
your accumulated online gaming points. Will you leave someone in charge of
updating your blog, or the web site that you run for your home or business?
Who will continue to manage your “online bill pay” accounts, check your e-mail,
set up a forwarding address, or close those online subscriptions?
Illinois
law provides some assistance in these areas through the use of a Power of
Attorney for Property (“PPOA”) or through the use of a Will or Trust. The
PPOA generally grants your agent the ability to handle any property that you
“own” in the event of incapacity, while the Will or Trust can assist with
managing these assets (including any e-mail or blogging accounts) in the case of
death.
Even
if you have thought about these issues, the answers are still not simple. Is the
person that you want to close your credit card account the same person you want
to give access to your e-mail? Does the Executor of your Will have the
technical knowledge to be able to handle your online accounts? Does your
agent, trustee or executor even know about all the accounts that you own?
Those
generations that grew up with technology are beginning to think about what to do
with their ‘digital estate’. Consider what you would like done with your
multiple computer and online accounts. Determine whether your subscription
services will share your password with a loved one – and whether you want them
to do so. Ultimately, estate planning is about diligence and being
prepared so that your family and friends have as little trouble as possible in
handling your affairs. Consult with your attorney and decide what you want
done with your “digital estate”.
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