Over the years, the American people have moved huge portions of their lives to the Internet. From socializing with friends and business associates to shopping and banking, people spend a great deal of time on the Internet. As part of this shift, "digital assets" have emerged. Some New Jersey residents may wonder how to address these assets as part of estate planning.
Digital assets are not only monetary; the term can apply to anything stored on the Internet, such as videos, emails, photographs, playlists, medical records or tax records. This list gets longer as more financial institutions encourage people to sign up for online banking and to obtain electronic statements. These sites require usernames and passwords, some of which have special requirements. A comprehensive estate plan should include lists of these accounts and the required access information, such as the website address, user name and password.