What happens to a person’s Facebook account when he or she passes away? What about the photos you share on social media, the documents you’ve stored in the cloud, your texts to family and friends? While the law is clear about how to handle physical property when a person dies, it is only now beginning to address the management of digital assets. An article in The Conversation discusses this issue. Here are some of the highlights. Privacy concerns. While many legal issues surrounding digital assets remain undecided, people should still consider including them in their estate planning. Access to a decedent’s email is an important consideration. Such messages can be highly personal in nature. What is more, bank accounts, utilities and other accounts may be linked to certain email addresses and messages. Access to this information can help administer a decedent’s estate. Meanwhile, limiting who can access it can protect
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The last thing anyone wants in an emergency is to run around hysterically searching for important medical and financial information. You should have all of the following information readily available: Copies of the front and back of insurance cards, prescription cards, and, if applicable, military IDs Names and contact information of primary care physicians and specialists Basic medical history, such as medications, previous surgeries, and allergies A current list of medications and dosage Contact information for banks, financial advisors, insurance agents, attorneys, and other key advisors A list of financial accounts and safe deposit boxes, as well as the institutions where they are held The location of all estate planning documents, including Power of Attorney, Living Will/Healthcare Proxy, Will, HIPAA Medical Release, and, if applicable, trusts Involve Your Children in Your Parents’ Care One advantage of being in the sandwich generation is that you have help at hand—your kids. Maybe
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