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When it comes to estate planning, individuals inevitably need to plan ahead for the future of their property and assets. When a loved one passes away, they may have more to their name than just physical assets or property--their footprint extends into cyberspace as well. Their presence on social media, investment sites, and other locations on the web, may have some monetary value, present or future. Family members and estate executors are left with piles of email messages, social media accounts, and other digital remains that may have significant personal or financial value. But, what happens when loved ones or executors have the required passwords, but have no clear authority to access or manage the deceased's accounts? Ergo, the issue of digital inheritance in the 21st century. The devil is in the details. It's time to think about the reach of the deceased's digital footprint and how far into cyberspace their presence reaches. It's imperative to include your online accounts during the estate-planning process.
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