In our digital world, online accounts and digital files hold significant personal and financial value. However, without a clear plan, loved ones may face challenges accessing these assets. Here’s how to include social media accounts, digital files, and other online assets in your estate plan, ensuring they’re protected and accessible.
1. Inventory Your Digital Assets
Start by listing your digital assets—social media profiles, email accounts, digital photos, financial accounts, and subscription services. This inventory should include each account’s login information, passwords, and security settings. Storing this list securely (such as in an encrypted document or a digital password manager) helps ensure only authorized individuals have access.
2. Name a Digital Executor
A digital executor is someone you trust to manage your digital assets upon your passing. This role might include closing accounts, transferring funds from online financial accounts, or managing intellectual property rights. Some states legally recognize digital executors, so consult an attorney to ensure this role is properly designated.
3. Provide Access to Important Files and Accounts
Many digital assets have significant emotional or financial value—think of family photos, important documents, or cryptocurrency. Providing detailed instructions and secure access to these assets can help preserve them, allowing your loved ones to retrieve valuable information or memories as needed.
4. Set Directives for Social Media and Email Accounts
Some social media platforms offer legacy options. For instance, Facebook allows you to designate a “legacy contact” or choose to have your account memorialized. Set preferences for each account based on your wishes, and make these clear in your estate plan to avoid confusion.
5. Consider Privacy and Security
Digital assets require careful handling to protect sensitive information. Consider leaving instructions to delete certain accounts if privacy is a concern, and securely store access information with a password manager or attorney for added security.
6. Use Legal Tools to Back Up Your Wishes
While a digital executor can be appointed, it’s also wise to outline digital asset directives within a will or trust, especially for valuable assets like online businesses or cryptocurrencies. Legalizing these instructions ensures they’re enforceable and respected.
Conclusion
Incorporating digital assets into your estate plan is essential for comprehensive planning in today’s world. At Von Rock Law, we guide clients in organizing and protecting their digital legacy, ensuring all assets—physical and digital—are properly accounted for.
Ready to Protect Your Digital Legacy?
Contact us today to get started on a digital asset plan that fits your unique needs.
