How Missouri’s Estate Planning Laws Protect Your Digital Assets

In the digital age, managing your assets extends beyond physical possessions. As online accounts, cryptocurrencies, and digital media become an integral part of our lives, understanding how Missouri’s estate planning laws protect your digital assets is crucial.

Missouri’s estate planning laws recognize the importance of digital assets, providing a framework for individuals to ensure their online presence and digital wealth are handled according to their wishes after death. Digital assets can include social media accounts, online banking, domain names, digital photographs, and cryptocurrencies, among other things.

One key aspect of estate planning in Missouri is the ability to include digital assets in your will or trust. By explicitly stating how you want your digital assets managed, you can prevent potential conflicts among heirs and ensure your online presence is preserved or properly dismantled. It is essential to list your digital assets in your estate plan, along with login information and passwords, to facilitate easy access for your executors or beneficiaries.

In 2016, Missouri enacted the "Revised Uniform Fiduciary Access to Digital Assets Act," which further clarifies how digital assets are to be managed after an individual's passing. This law allows fiduciaries, such as executors or trustees, to access and manage a deceased person’s digital accounts and assets according to the directives laid out in the estate plan. This means that your wishes regarding digital assets can be enforced legally, ensuring that your intentions are honored.

When planning your estate, it is prudent to consider the implications of access to your digital accounts. Some platforms, like social media networks, have their own policies regarding deactivating accounts after death. By explicitly stating your wishes for these accounts in your estate plan, you can ensure they align with your personal values, whether you prefer them to be memorialized, deleted, or maintained by loved ones.

An additional layer of protection for your digital assets is employing the use of a digital vault or password manager. These tools can securely store your account information and provide your fiduciary with access after your passing, making it easier for your heirs to manage what you've left behind.

Moreover, as digital assets continue to evolve, staying informed about changes in laws and practices is essential. Engaging with an estate planning attorney familiar with Missouri’s laws can help navigate the complexities associated with digital assets and ensure they are adequately addressed in your overall estate plan.

In summary, Missouri’s estate planning laws are designed to support the protection and management of digital assets effectively. By incorporating your digital assets into your estate plan, utilizing the provisions of the Revised Uniform Fiduciary Access to Digital Assets Act, and employing secure management tools, you can safeguard your digital legacy ensuring it reflects your wishes long after you’re gone.