Call Us Now
e-Mail Us Now
In today’s digital world, estate planning isn’t just about physical assets like homes or cars—it’s about securing your online presence and digital assets too. As more of our lives move online, it’s essential to ensure your family knows how to manage and access your digital life after you’re gone. From financial accounts to social media, estate planning in the digital age requires a fresh perspective. Here’s what you need to know to protect both your family and your digital legacy.
1. Identify Your Digital Assets
Digital assets include everything from online bank accounts and investments to social media profiles and email accounts. Start by making a list of all your digital assets, including login credentials and access information. This will make it easier for your executor or heirs to manage your accounts and preserve your digital presence.
2. Appoint a Digital Executor
A digital executor is someone who will manage your online accounts and digital assets after you pass away. This person can ensure your online profiles are deactivated, financial accounts are closed, and important data is transferred to the right people. While not recognized in every state, appointing a digital executor ensures your wishes are carried out digitally.
3. Back Up Important Data
From family photos to important documents, much of our lives are stored online. Ensure that crucial files and memories are backed up regularly, either on an external hard drive or a secure cloud service. Make sure your estate plan includes information on where these backups are stored and how to access them.
4. Protect Digital Financial Accounts
Many financial assets, such as online banking, retirement accounts, and cryptocurrency, exist in digital form. Incorporate these into your estate plan by documenting login information and instructions for handling these accounts. Failing to account for these assets can lead to loss of wealth and headaches for your loved ones.
5. Create a Plan for Social Media Accounts
Social media profiles can live on long after we’re gone, often turning into memorial pages. Decide whether you want your social media accounts deactivated or managed after your passing. Facebook, for example, allows users to choose a legacy contact to manage their account. Make sure your estate plan includes your wishes for your online presence.
6. Secure Your Digital Privacy
Digital privacy is a growing concern. Without proper instructions, sensitive personal information stored in your online accounts could be exposed after your death. Ensure your estate plan addresses how your digital accounts will be handled to prevent misuse or breaches.
7. Regularly Update Your Digital Estate Plan
Technology changes rapidly, and so can your digital assets. Review and update your digital estate plan regularly to ensure it reflects your current online presence and any new digital accounts you’ve opened.
8. Consult an Attorney Familiar with Digital Assets
Not all estate planning attorneys are familiar with digital assets and how to handle them in an estate. Work with a lawyer who understands the complexities of digital estate planning to ensure your entire estate—both physical and digital—is protected.
Continue to be diligent in protecting your family assets and start with reaching out to Pile Law Firm for guidance. Contact our team at 610-718-6368 for a Strategy Session today.
Address
