Closing out a loved one’s estate takes time, especially if he or she failed to grant anyone access to certain assets. Digital assets, in particular, can be troublesome to deal with during the estate administration process, whether it is completed in Michigan or elsewhere. Thankfully, with the right help in one’s corner, one can troubleshoot asset access issues.
Digital assets are a prominent part of a person’s life. They may not all have monetary value, but they have value nonetheless. A few examples of digital assets include:
- Social media accounts
- Items saved in Cloud storage
- Various website accounts
- Digital access to financial, medical and life insurance accounts
If someone fails to document all digital assets along with corresponding passwords and fails to grant the executor or any other trusted individual access to these assets, it can be a real bear to track them down and gain the rights to them. It is possible, but it takes time and it may take a little legal maneuvering, possibly litigation. It is certainly something one may not want to tackle alone.
Estate administration is not always a straightforward or quick process. It can be confusing, and problems often arise. If an estate plan was not put together or proper access assigned to digital assets, or any assets really, it can take time figuring everything out so that the estate, in its entirety, can be passed on as it should be. Those who feel they need assistance with the estate administration process can turn to an experienced estate law attorney who will be able to guide them through it and help them resolve any issues that arise.