In today’s digital age, a significant portion of our lives is stored online. From financial records to treasured photos, many assets are no longer physical but digital. While traditional estate plans often focus on real property, bank accounts and personal belongings, overlooking digital assets can leave your loved ones struggling to access important information.
A complete estate plan should include instructions for handling your digital assets. Without this guidance, service providers may block access, accounts could be deleted and valuable or sentimental content may be lost forever.
Steps to prepare a digital estate plan
Creating a digital estate plan helps protect your online presence and helps ensure your wishes are followed. Below are some important steps to consider.
- Take inventory of your digital assets: Start by listing all digital accounts, including email, social media, online banking, cloud storage, subscription services and cryptocurrency wallets. Include account usernames, and consider using a secure password manager to organize access credentials.
- Decide how you want each asset managed: Think about whether you want accounts deleted, memorialized or transferred. Include instructions for income-generating platforms, personal blogs or digital photo libraries. For each asset, specify what should happen after your death.
- Name a digital executor: Choose someone you trust who is comfortable with technology to manage your digital assets. This person will carry out your instructions and handle the necessary steps to close or maintain your accounts.
- Review service provider tools and policies: Some platforms offer account management options after death. For example, you can designate a legacy contact on Facebook or set up an inactive account manager through Google. These tools can simplify the process for your digital executor.
- Secure and store your plan: Keep your digital estate plan in a safe, accessible location. Make sure your chosen representative knows where to find it. Avoid putting sensitive login details in your will, which becomes public during probate.
Adding digital assets to your estate plan reduces confusion and protects valuable content. Seeking legal guidance can help you take the right steps to safeguard your digital property for the future.
