The Internet has altered the landscape throughout the business world, and the field of estate planning has been affected as well. There are a number of things to take into consideration now that we have gone digital that were previously not a factor. So, let’s take a look at a couple of ideas that you may want to keep in mind when you’re looking toward the future during the Internet age.
When you are planning your estate you are preparing to pass along all the assets that you have been able to accumulate throughout your life to the people that you love the most. This is a pretty important matter from a financial perspective, and on the personal level your legacy represents a parting gift to your loved ones and this is rather profound as well. Such a matter is not something that should be taken lightly, but you will see websites offering software and generic forms that supposedly enable you to plan your own estate.
Don’t be fooled. Thinking that you can go it alone with a little bit of information that you are able to obtain over the Internet is a mistake, and it can be a costly one. The only way to be certain that you are transferring assets to your loved ones in an optimal manner is to engage the services of an experienced, licensed estate planning attorney.
In addition, many people these days handle their financial affairs for the most part online. Paperless online banking is commonly engaged in, and there are innumerable online brokerages as well. Many people have eBay and PayPal accounts, and more and more individuals have their own blogs and websites. When you’re planning your estate you have to make sure that you provide access to these electronic accounts by recording your usernames and passwords and including this information with the rest of your estate planning documents.
Mr. Nirenstein is licensed to practice before the courts of the State of Connecticut and the United States District Court. He is a member of the Connecticut and Hartford County Bar Associations, and the Estate and Probate, Elder Law, Business Law and Real Estate Sections of the Connecticut Bar Association.
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