Parents, Pets and Online Presence: New Concerns for Modern Estate Planners (AdvisorOne)

Estate planners have a few more considerations for clients to address. The report “Estate planning in the 21^st century: New consideration in a changing society” found 15% of Americans care for a parent. Of those, 58% provide personal and financial care, but only 33% made plans to continue care if they die unexpectedly. Most don’t believe their loved one will outlive them. According to the report, 61% of Americans own a pet, 77% believe a pet should be included in estate plans, but only one-third made plans to do so. Almost all had an online presence through one financial tool, but only 43% have made provisions for those assets. Intangible digital assets can include financial statements, online investment accounts, loyalty programs, email, websites and social media accounts.