A Practical Guide to Digital Asset Planning in Caryville
Digital asset planning addresses how online property and electronic accounts are managed, accessed, and distributed during incapacity and after death. In Caryville and throughout Tennessee, families and account holders face unique challenges when digital property is involved, including password access, cloud storage, cryptocurrency, social media accounts, and online business records. This introduction outlines the reasons to plan for those assets now, clarifies common obstacles created by service provider policies, and shows how estate planning and probate practices can be updated to include digital asset provisions to make administration smoother and reduce family stress during difficult times.
Planning for digital assets begins with taking inventory, naming trusted fiduciaries, and documenting access methods in a way that complies with privacy rules and state law. The process also considers how online platforms handle account access and whether those platforms allow designated agents to manage or retrieve content after a person’s death. This paragraph explains why combining traditional estate planning tools—wills, trusts, and powers of attorney—with digital-specific instructions provides clarity for survivors and fiduciaries, and reduces delays when important information or financial value is tied up in online systems.
Why Digital Asset Planning Matters and How It Helps Families
Digital asset planning offers tangible benefits that can simplify administration and protect value. By documenting accounts, access credentials, and preferred handling instructions, clients help ensure financial accounts, digital business records, and sentimental content are preserved or closed according to their wishes. Planning also reduces conflict by designating fiduciaries with clear authority to act and reduces the risk that service providers will deny access due to privacy rules. Early planning saves time and expense for loved ones and preserves continuity for online businesses, subscriptions, and assets that may have monetary or personal importance.
About Jay Johnson Law Firm and Our Approach to Digital Asset Planning
Jay Johnson Law Firm serves clients across Tennessee, including Caryville and Campbell County, with a focus on estate planning and probate matters that include digital assets. Our approach is practical and client-centered: we review a person’s online footprint, explain applicable Tennessee statutes and service provider policies, and prepare clear documents that name fiduciaries and set instructions for access and administration. We prioritize communications that family members can follow in stressful moments and prepare documents designed to integrate with existing wills, trusts, and powers of attorney so that digital assets are addressed alongside traditional property.
Understanding Digital Asset Planning Services
Digital asset planning is a process that identifies electronic property and creates a plan for its management. Typical digital property includes online banking, payment and investment platforms, cryptocurrency wallets, email accounts, social media profiles, cloud storage, domain names, and business-related accounts. This paragraph clarifies that planning involves more than a list of passwords: it involves legal documents that authorize fiduciaries to act, instructions for preserving or closing accounts, and steps to protect privacy. It also addresses how to document access information securely and how to update plans as new accounts are created.
Digital asset planning also requires understanding how platforms handle requests for access and the limits of third-party intervention. Many online services have their own procedures for account requests, and some require specific legal documentation before releasing information. In Tennessee, estate planning can include provisions that comply with state law and align with the Revised Uniform Fiduciary Access to Digital Assets Act where applicable. This paragraph explains how coordinated documents, careful record-keeping, and clear legal authorization allow appointed fiduciaries to navigate platform rules and act on behalf of the account holder when needed.
Defining Digital Assets and How They Are Treated
Digital assets are electronic records or property that have value or sentimental significance and are stored, managed, or accessed online or on electronic devices. This includes financial accounts, intellectual property, email, photos, social media posts, and data stored in the cloud. Treatment of these assets depends on the type of account, contractual terms with the service provider, and applicable state law. Digital asset planning defines which items to include, documents who may act, and sets instructions for retaining, transferring, or closing accounts, while taking into account privacy protections and technical limitations imposed by service providers.
Key Elements and the Planning Process
A thorough digital asset plan includes an inventory of accounts, secure instructions for access, legal authorizations such as a digital asset power of attorney or trust provisions, and guidance for fiduciaries about handling online accounts. The planning process typically begins with a review of a client’s digital footprint, followed by drafting or updating estate planning documents to reference digital assets, and creating a secure method for storing access information. Planning also anticipates changes in technology and advises periodic reviews so documents and access lists remain accurate and useful over time.
Key Terms and Glossary for Digital Asset Planning
This glossary explains common terms used in digital asset planning so clients and families understand the language used in legal documents. Clear definitions help fiduciaries follow instructions and comply with platform procedures. The glossary covers terms such as fiduciary, digital asset, access credentials, service provider terms of service, and electronic communications. Learning these terms helps demystify the process and makes it easier to create plans that are practical and enforceable under Tennessee law and relevant platform policies.
Fiduciary and Digital Agent
A fiduciary or digital agent is an individual or entity appointed to manage digital assets on behalf of another person, typically through a will, trust, or power of attorney. This role carries a duty to follow the account holder’s instructions and to act in the best interest of beneficiaries where applicable. Naming a clear fiduciary for digital matters helps ensure timely access and proper handling of accounts, but it is important to provide that person with the legal documents and secure access information they need to act effectively and lawfully under Tennessee rules and platform requirements.
Digital Asset Inventory
A digital asset inventory is a detailed list of online accounts, electronic files, and instructions needed to access them. It often includes account names, associated usernames or email addresses, hints about password locations, and notes on whether multi-factor authentication is used. Maintaining an inventory helps fiduciaries locate important financial records, sentimental items, or business information, and reduces delays during administration. Inventories should be stored securely and updated regularly so the information remains accurate and usable when needed.
Service Provider Policies
Service provider policies are the terms of service and privacy rules set by online platforms that govern account access and disposition. These policies determine whether and how a platform will respond to requests from family members or fiduciaries after an account holder becomes incapacitated or deceased. Understanding these policies is a key part of planning because they can limit access or require specific legal documents. Planning strategies aim to align client instructions with provider policies to reduce the risk of denied requests and to prepare alternative approaches if direct access is restricted.
Access Authorization Documents
Access authorization documents are legal instruments—such as powers of attorney, trust provisions, and testamentary documents—that grant authority to named individuals to manage or access digital assets. These documents are drafted to meet legal standards in Tennessee and to provide clear authority when interacting with financial institutions and online platforms. Proper documentation makes it easier for fiduciaries to satisfy service providers’ requirements and to perform tasks like transferring digital property, closing accounts, or preserving data for beneficiaries.
Comparing Limited vs. Comprehensive Digital Asset Planning Options
When planning for digital assets, clients can choose a limited or a comprehensive approach. A limited approach might address only specific named accounts or provide minimal instructions, while a comprehensive plan reviews all online holdings, updates estate documents, and creates secure access procedures for fiduciaries. This paragraph explains the tradeoffs between a narrower plan that may be faster and less costly and a broader plan that provides more protection and reduces the chance of overlooked accounts. The right choice depends on the complexity of a person’s digital life and the importance of uninterrupted access for loved ones.
When a Focused Digital Plan May Be Adequate:
Limited Planning for Few Online Accounts
A limited approach may be suitable when a person maintains only a handful of important online accounts that are clearly identified and tied to straightforward instructions. If accounts are few and the account holder can easily document access details and name a trusted family member to act, addressing those specific items within existing estate documents may be enough. In such cases, a focused plan reduces upfront cost and complexity while still improving the odds of timely access for loved ones and reducing confusion at the time of administration.
Simple Financial and Personal Accounts
A limited plan also makes sense when online holdings are predominantly personal and low in monetary value, such as email accounts and a small number of subscription services. When the main concern is preserving sentimental content and closing minor accounts, straightforward instructions and a secure list of credentials may suffice. This approach focuses on immediate priorities while leaving room to expand the plan later if the client’s digital footprint grows or if financial or business assets become involved and demand more formal legal arrangements.
When a Comprehensive Plan Is Recommended:
Complex Financial or Business-Related Digital Holdings
A comprehensive plan is often recommended when digital holdings include significant financial accounts, cryptocurrency, online businesses, or intellectual property. These types of assets may require special handling to preserve value, transfer ownership, or continue operations. Comprehensive planning coordinates legal documents with practical procedures for access and management, anticipates provider requirements, and documents succession steps to preserve continuity. When business continuity or high-value assets are at stake, a wider scope reduces the risk of loss and provides clearer directions for fiduciaries and beneficiaries.
Extensive Online Presence and Multiple Platforms
People with a large number of online accounts across multiple platforms or complex privacy settings benefit from a comprehensive plan that consolidates information and establishes clear authority. Managing multi-factor authentication, linked accounts, digital subscriptions, and domain names requires coordinated instructions and secure storage of access methods. A comprehensive approach anticipates future account creation and recommends regular reviews to keep records up to date. This reduces administrative burden for family members and helps ensure that significant digital property is handled consistently with the account holder’s wishes.
Benefits of Taking a Comprehensive Approach to Digital Assets
A comprehensive approach reduces uncertainty by creating clear legal authority and practical steps for managing and transferring digital property. It helps prevent loss of financial assets and preserves sentimental materials such as photographs and messages. Consolidating instructions and access information in a secure, reviewable format reduces delays and legal disputes among family members. Comprehensive planning also allows fiduciaries to address privacy settings and understand when to seek court approval versus relying on documented authorization, which improves outcomes for beneficiaries and reduces administrative headaches.
Comprehensive planning also accounts for technical details like encryption and multi-factor authentication and recommends secure methods for storing access information. This reduces the risk that important accounts will be inaccessible when needed. By coordinating trusts, powers of attorney, and testamentary documents to include digital asset provisions, a comprehensive strategy creates a single, integrated plan for both physical and electronic property. The result is a more predictable administration process and increased confidence that an individual’s wishes will be carried out as intended.
Preserving Financial Value and Business Continuity
One major benefit of comprehensive planning is protecting assets that have monetary value, such as online brokerage accounts, payment platforms, and cryptocurrency. These assets can be lost or frozen if fiduciaries lack the proper authorization or access information. A thorough plan outlines who may access and manage financial accounts and includes steps to transfer ownership or liquidate assets as appropriate. For owners of online businesses, comprehensive planning also helps maintain continuity, allowing trusted individuals to manage operations and protect ongoing revenue streams during transitions.
Reducing Family Conflict and Administrative Burden
Comprehensive digital asset planning reduces the potential for family disagreements by naming decision-makers and providing clear instructions for account handling. When fiduciaries are empowered and documents are clear, relatives spend less time guessing about intent and less money resolving disputes through litigation. Additionally, a coordinated plan lowers the administrative burden by providing organized records and procedural guidance for closing, preserving, or transferring accounts. This clarity helps grieving families focus on personal matters rather than technical or legal hurdles related to online property.
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Practical Tips for Digital Asset Planning
Create and maintain a secure digital inventory
Start by compiling a secure inventory of all online accounts, including usernames, recovery emails, and notes about multi-factor authentication. Use a reputable password manager or an encrypted document to store this information and review it periodically. The inventory should indicate which accounts have financial value, which contain sentimental content, and which are business-related. Providing this information to a named fiduciary—along with clear legal authorization—helps ensure that important accounts are not overlooked and can be addressed efficiently during administration.
Include digital provisions in estate documents
Plan for multi-factor authentication and recovery
Multi-factor authentication and account recovery methods can prevent access even when credentials are known. Document where backup codes are stored, who controls linked phone numbers or recovery emails, and how to retrieve hardware tokens. Establishing a method for secure transfer of these recovery tools and including instructions in legal documents helps fiduciaries overcome technical barriers. Keep this information updated and limit access to trusted individuals while ensuring that fiduciaries can comply with platform procedures when necessary.
Reasons to Consider Digital Asset Planning in Caryville
You should consider digital asset planning if you have online financial accounts, business platforms, or valuable digital property that could be inaccessible without legal authority or specialized knowledge. Planning safeguards assets that represent monetary value and protects sentimental items like photos and messages that you want to preserve. It also saves loved ones time and expense by reducing uncertainty about how to handle various accounts and by giving fiduciaries clear instructions and authority to act when incapacity or death occurs, which leads to a more efficient administration process.
Digital asset planning is also important for anyone who uses cloud storage or multiple platforms tied to personal or professional identity. Even seemingly minor accounts can contain important records, business contacts, or intellectual property. Without planning, service provider policies and privacy protections can delay access or permanently restrict certain types of information. Creating a coordinated plan that addresses both legal authority and practical access details helps ensure continuity, protects value, and provides peace of mind knowing that your digital affairs are managed according to your wishes.
Common Situations Where Digital Asset Planning Is Needed
Digital asset planning is commonly needed when people have valuable online investments, run businesses online, maintain extensive social media or cloud photo libraries, or depend on digital accounts for bill payment and communications. It is also important when people worry about identity theft, want to preserve family memories, or anticipate that multiple family members may dispute access to accounts. This paragraph outlines typical circumstances that make planning advisable and explains how a clear plan reduces complications and improves outcomes for fiduciaries and beneficiaries.
Online Business Ownership
Owners of online businesses require planning to ensure continuity and to protect revenue streams. Business platforms, domain registrars, payment processors, and customer databases are all digital assets that may need transfer or management after an owner becomes incapacitated or dies. A plan should identify who can access accounts, how to transfer ownership, and steps to maintain operations while legal formalities are completed. Including specific instructions and legal authority for fiduciaries helps protect the business’s value and eases the transition to new management.
Cryptocurrency Holdings
Cryptocurrency holdings present unique challenges because private keys and wallet access can be the only method to control value. Planning must address secure storage of keys, trusted methods for transferring or liquidating holdings, and instructions for fiduciaries on how to access wallets. Because technical know-how is often required, documentation should combine clear legal authority with practical steps to retrieve assets. Proper planning reduces the risk that digital currency will be lost permanently due to inaccessible keys or unclear succession procedures.
Personal Data and Sentimental Records
Many people store family photographs, personal journals, and correspondence in cloud accounts or social media platforms. These items often have deep sentimental value, and planning helps preserve them for loved ones. Instructions can specify whether certain content should be archived, shared with family members, or deleted. By designating a fiduciary and providing secure access instructions, clients ensure that their digital memories are handled respectfully and in line with their preferences, which can provide comfort to family members during difficult times.
Digital Asset Planning Attorney Serving Caryville and Campbell County
Jay Johnson Law Firm assists Caryville residents with practical, legally sound digital asset planning tailored to Tennessee law. We help clients identify valuable online property, incorporate digital provisions into estate documents, and prepare secure methods for storing access information. Our goal is to make the administration process clear for fiduciaries and to reduce the likelihood of disputes. We take a client-focused approach to explain technical and legal complexities in straightforward terms so families can make informed choices that reflect their priorities.
Why Choose Jay Johnson Law Firm for Digital Asset Planning
Jay Johnson Law Firm provides practical guidance for families in Caryville and across Tennessee on how to manage digital property as part of a complete estate plan. We help clients create inventories, draft legal language that authorizes fiduciaries to act, and advise on secure storage methods for sensitive access information. Our focus is on creating clear, usable plans that take into account platform requirements and the realities of modern digital life, so that loved ones can carry out instructions with confidence when the time comes.
We work with clients to identify the accounts and data that matter most and to determine the best legal tools to protect those assets. Whether the needs are modest or complex, our process includes reviewing online holdings, advising on how to document access, and coordinating estate documents to address both physical and digital property. This collaborative approach helps ensure that plans are tailored to each client’s situation and are designed to be straightforward for fiduciaries to implement under Tennessee rules and service provider practices.
Clients can expect clear communication about what to include and how to store access details securely. We explain the limits imposed by third-party platforms and recommend strategies that are practical and resilient, including periodic review of plans as accounts change. Our goal is to provide clients with a reliable, integrated plan that protects both financial value and personal records, while leaving family members with a manageable path forward when handling digital affairs.
Contact Jay Johnson Law Firm to Begin Your Digital Asset Plan
How Digital Asset Planning Works at Our Firm
Our process begins with an intake to identify accounts and goals, then moves to documenting legal authority and preparing instructions for fiduciaries. We review service provider requirements, recommend secure methods for recording access information, and draft or update wills, trusts, and powers of attorney to include digital asset provisions. We walk clients through where to store inventories and how to update them, and we provide guidance for periodic reviews so that plans remain current as technology and accounts evolve over time.
Step One: Digital Asset Discovery and Inventory
The first step is a thorough discovery of online accounts and electronic holdings, which serves as the basis for a secure inventory. We assist clients in identifying accounts with financial or sentimental value, note recovery methods, and classify assets by priority. This foundational work makes the rest of the planning process more efficient and ensures important items are not overlooked. The inventory also informs whether additional tools—such as trusts or specific authorization letters—are necessary to meet client objectives.
Gathering Account Information
We help clients gather account names, associated emails, and notes about authentication methods in a way that protects privacy. Instead of collecting actual passwords in firm files, we advise on secure storage options and how to provide fiduciaries with access when needed. Effective gathering includes identifying linked accounts, backup codes, and any business-related credentials, as well as flagging accounts that may require immediate attention. This organized approach reduces stress on family members and speeds up administration when action is required.
Classifying and Prioritizing Assets
After identifying accounts, we classify assets by type and priority so fiduciaries know which items need immediate attention and which can wait. High-priority items typically include financial accounts, business platforms, and any accounts tied to recurring payments. Lower-priority items might be social media profiles or media libraries with sentimental value. Prioritization helps create an efficient plan of action, ensuring that critical assets are addressed first and that fiduciaries understand how to allocate time and resources during administration.
Step Two: Documenting Authority and Instructions
Once the inventory is complete, the next step is to draft or amend legal documents to grant clear authority to fiduciaries and to set handling instructions for different types of accounts. This includes integrating digital provisions into wills, trusts, and powers of attorney, and preparing written instructions that align with platform policies. The goal is to ensure that fiduciaries have both the legal documentation and practical guidance needed to request access, preserve assets, and carry out the account holder’s wishes.
Drafting Authorizing Language
We draft authorizing language that is tailored to Tennessee law and that speaks directly to digital holdings, whether that language is placed in a power of attorney, trust, or will. Clear authorizations help fiduciaries demonstrate their authority to service providers and reduce the need for court proceedings. The language is designed to be practical and to anticipate common provider requests, while also respecting privacy and complying with legal requirements for fiduciary actions under state statutes.
Providing Handling Instructions
Beyond authority, we work with clients to provide specific handling instructions, such as whether to preserve, delete, or transfer content and what to do with recurring subscriptions or domain names. These instructions help fiduciaries make appropriate decisions that reflect the account holder’s values and financial goals. Providing clear directions reduces ambiguity, guides fiduciaries through platform procedures, and helps to avoid disputes among family members about the disposition of digital property.
Step Three: Secure Storage and Ongoing Review
The final step focuses on secure storage of the inventory and legal documents and on recommending a schedule for periodic review. Secure storage methods might include encrypted password managers or secure safe deposit solutions, combined with instructions for fiduciaries on how to retrieve access when necessary. Regular reviews ensure that newly created accounts are included, that access methods remain accurate, and that legal documents are updated to reflect changes in family circumstances or Tennessee law.
Secure Storage Options
We advise on storage options that balance accessibility for fiduciaries with protection against unauthorized access. This may include guidance on using encrypted password managers, specifying where recovery codes are kept, and limiting physical copies to secure locations. Clear instructions are given about who may access stored items and under what circumstances, with an emphasis on maintaining privacy while ensuring fiduciaries have the tools they need to act in a timely manner.
Scheduling Reviews and Updates
Technology and accounts change frequently, so regular reviews are important to keep plans accurate. We recommend reviewing digital asset inventories and related documents whenever major life events occur or on a periodic schedule. During reviews we update account lists, adjust instructions, and amend legal documents as needed so fiduciaries are always working from current information. This minimizes surprises and maintains continuity between the client’s intentions and the practical ability to carry them out.
Frequently Asked Questions About Digital Asset Planning
What exactly are digital assets and should I include them in my estate plan?
Digital assets include any electronic property or records that have value or personal significance, such as online bank accounts, investment platforms, cryptocurrency, email, cloud storage, social media profiles, and domain names. These items can contain monetary value, important personal records, or memories, and planning for them helps ensure they are managed or preserved according to your wishes.Including digital assets in your estate plan means creating an inventory, naming fiduciaries, and drafting legal authorizations that allow those fiduciaries to act. Adding explicit digital provisions to wills, trusts, and powers of attorney clarifies authority and reduces the likelihood that online service provider policies or privacy protections will obstruct access when action is needed.
How do I safely store account access information without compromising security?
Safely storing account access information requires balancing accessibility for fiduciaries with protection against theft or misuse. Secure options include using a reputable encrypted password manager, storing recovery codes in a locked safe, and providing instructions in legal documents about where and how fiduciaries can obtain access. Avoid keeping unencrypted lists of passwords in email or on devices that are easily compromised.It is also helpful to document which accounts use multi-factor authentication and where backup codes or hardware tokens are kept. Communicate to your fiduciary where to find the inventory and ensure the method you choose aligns with your comfort level for privacy and security while remaining practical for use when necessary.
Can my appointed agent access my online accounts under Tennessee law?
Whether an appointed agent can access online accounts depends on the legal documents you prepare and the terms of service of the platforms involved. Tennessee law permits fiduciaries to act when proper authority is documented in a will, trust, or power of attorney, but some service providers may require specific forms of proof or follow their own procedures for granting access.To improve the likelihood of access, include explicit authorization in your estate planning documents and gather supporting materials such as an inventory and provider-specific guidance. Even with clear authorization, fiduciaries may need to follow each provider’s request process, and having well-prepared documentation reduces delays.
What should I do about cryptocurrency in my estate plan?
Cryptocurrency presents unique planning challenges because control is typically tied to private keys and wallet access rather than traditional account credentials. Effective planning should document secure storage of private keys, hardware wallets, and backup phrases, and provide clear legal authority for fiduciaries to access or transfer holdings. Because technical steps are often required, instructions should be practical and clear to someone who may not be familiar with cryptocurrency.It is important to avoid storing unencrypted keys in easily accessible places. Instead, combine secure technical storage with legal authorization and clear recovery steps so that fiduciaries can act without risking theft or loss of the digital currency.
How do online service provider policies affect access to accounts after death?
Online service provider policies can limit or define how account information is released to family members or fiduciaries, and they often require specific documentation or a court order. Policies vary significantly across providers and may restrict the types of information that can be shared. As a result, planning must take these policies into account and include documentation designed to meet common provider requirements.A practical strategy is to prepare clear legal authorizations and to maintain an up-to-date inventory that includes provider-specific notes. When providers require particular forms or affidavits, fiduciaries with well-prepared documentation are better positioned to satisfy those requests and to minimize administrative delays.
Should I include social media accounts and photos in my instructions?
Social media accounts and cloud-stored photos often have high sentimental value, so including instructions for these items is advisable. You can specify whether content should be preserved, downloaded for family members, transferred where permitted, or deleted. Clear directions reduce uncertainty and guide fiduciaries in handling personal memories in a way that reflects your wishes.Because social platforms have varying policies, it helps to note each platform’s specific procedures in your inventory. Providing instructions and the necessary legal authority increases the chance that loved ones can retrieve meaningful content and prevents accidental loss of family records.
Will naming someone in my will automatically give them access to digital accounts?
Naming someone in a will does not automatically give them immediate access to online accounts. Wills typically become effective after probate, and many online platforms require contemporaneous proof of authority or specific documentation before granting access. To allow timely action, it is better to include digital authorizations in powers of attorney or trust documents, which can be effective during incapacity or promptly after death.Coordinating wills with powers of attorney and trust provisions that explicitly address digital assets helps ensure fiduciaries have usable authority when they need it. Preparing the right documents in advance prevents gaps between naming a beneficiary and being able to access accounts.
How often should I update my digital asset inventory and documents?
Digital asset inventories and legal documents should be reviewed periodically and updated whenever you add significant accounts, change passwords, or experience major life events. Technology evolves quickly, and new platforms or authentication methods may appear, so regular reviews help keep plans accurate and useful. Experts recommend checking inventories at least once a year or after major changes in financial or online activity.During reviews, update account lists, confirm storage locations for recovery codes, and amend legal documents as necessary. Keeping an ongoing review schedule reduces the risk that outdated information will impede fiduciaries when they need to act.
What if I don’t know the passwords or recovery methods for some accounts?
If you do not know the passwords or recovery methods for some accounts, start by identifying linked recovery emails, phone numbers, or backup codes, and document what is known. For accounts where credentials are missing, note the provider information and any supporting documentation that could help prove ownership. Providing the fiduciary with clear instructions about who to contact and where records might be found reduces time spent searching during administration.In some cases, service providers will accept proof of identity and legal authorization to grant access even without passwords, but this varies by platform. Planning ahead by consolidating access methods and updating credentials where possible is the most reliable way to avoid access problems.
Can a fiduciary be reimbursed for costs associated with accessing digital assets?
Fiduciaries may incur reasonable expenses while managing digital assets, such as fees for forensic retrieval, valuation, or securing hardware. Tennessee law and governing documents often allow fiduciaries to be reimbursed from the estate or trust for reasonable costs incurred while carrying out their duties. Clear record-keeping and documentation of expenses support reimbursement and transparency.When drafting plans, consider including provisions about reimbursement and compensation for fiduciaries, and keep detailed records of any expenses related to accessing, preserving, or transferring digital property. This helps prevent misunderstandings among beneficiaries and provides a clear basis for reimbursement from estate assets.