As more aspects of life shift online, it is important to consider what happens to your digital assets when you pass away. These assets include everything from email accounts and cloud storage to cryptocurrency and online banking profiles. Without a plan, your loved ones could lose access to valuable or sentimental digital property.
Digital estate planning allows you to decide how your digital assets will be handled and who will manage them after your death. Since some digital accounts are protected by strict privacy laws and user agreements, preparing a digital estate plan helps avoid complications and better ensures your wishes are followed.
Steps involved in digital estate planning
Including digital assets in your estate plan involves specific steps that help protect your information and guide your chosen representative.
- Create a complete inventory of your digital assets: Make a list of all your digital accounts, including email, social media, cloud storage, online banking and investment platforms. Include login details stored securely.
- Review the policies of each digital service: Some platforms allow for account management tools, such as Google’s Inactive Account Manager. Others may require a death certificate or court order for access.
- Decide what you want to happen with each asset: Determine whether each account should be closed, transferred or maintained. Include instructions for accounts that generate income or contain personal files.
- Appoint a digital executor: Choose a trusted person to handle your digital assets. This person should be capable of managing your accounts and following your instructions responsibly.
- Store your instructions securely: Keep your digital estate plan and account information in a safe place, such as a locked file cabinet or password manager. Make sure your digital executor knows how to access them.
Including digital assets in your estate plan helps preserve your personal information and reduce confusion for loved ones. Because laws around digital property continue to evolve, obtaining legal guidance can help ensure your estate plan meets current standards and gives your family the clarity they need.
