Before the advent of the Internet, when a person passed away or became
incapacitated, family members or the executor of the Will would located the
decedent’s personal and financial information in folders other tangible records
found throughout the home. Photographs, letters, account information, etc. were
all located physically in print. Today, you are more likely to find personal
effects on the decedent’s social media accounts, like Facebook. Does your family
know your password? In most cases, they do not.


While Facebook has terms of use for these situations, they may not accomplish
what the decedent desires. As a result, people are now writing what is being
called a Social Media Will which outlines the ownership (or deletion) of online
information about them after their death. This can also be accomplished through
your regular will or trust. As more and more people move their personal and
financial information online protecting digital assets is becoming increasingly
important. It is not only important for your family – we’ve all heard of cases
where a “friend suggestion” of a deceased person pops up reopening the hurt, but
also the risk of personal financial information to be obtained by hackers – this
is especially likely when the information is no longer being monitored because
of the owner’s death

 
A Living Trust allows a great deal of flexibility in estate planning. It is called a "Living" Trust because it is effective both during your lifetime and after. Any assets that are properly transferred into the Trust will avoid probate at death. It provides confidentiality (because it is not filed with a probate court), disability planning for yourself or a beneficiary with a disability, and can be revoked or changed at any time during your life.