In today’s digital age, social media accounts are more than just a platform for sharing updates and photos—they can be valuable assets, especially if they generate income. Whether you run a full-fledged business or a side hustle on platforms like TikTok, where you might be a promoter, seller, or influencer, it’s crucial to consider these assets in your estate planning.
Business assets encompass anything owned by a company that can provide financial gain or increase its value. Similar to personal assets, businesses own physical assets with monetary value, such as real estate, equipment, vehicles, or bank accounts. However, businesses also possess non-physical assets, which are often overlooked but can significantly contribute to the business’s value.
Intangible assets are non-physical yet hold substantial value. These assets are crucial for businesses and, at times, for individuals.
Examples of intangible assets include:
Social media accounts, in particular, can be highly valuable, especially if they serve as a revenue stream. Including these in your estate planning ensures they are protected and managed according to your wishes.
Understanding the value of your tangible and intangible assets is the first step in protecting them. A well-crafted estate plan not only safeguards your assets from probate, certain taxes, and creditors but also preserves them for your beneficiaries.
Proper estate planning allows you to:
Andrew Fesler specializes in helping individuals and businesses navigate the complexities of estate planning. By recognizing the full scope of your assets, including social media accounts, Andrew can develop a comprehensive plan that ensures your assets are protected and passed on according to your wishes.
Start your estate planning today and secure your digital legacy. Remember, peace of mind starts with us – Contact Andrew Fesler, your trusted Carlsbad Estate Planning Attorney, to learn more about protecting all aspects of your estate.
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