When thinking about estate planning many people don’t even consider all the digital data, accounts, photos, computer files, cloud storage, and search history information they may be leaving behind when they pass. That is why it is important to make sure you have a digital assets plan as part of your estate plan.
An estate plan for your digital assets refers to the arrangements you make to manage and distribute your digital assets, such as online accounts, digital photos, social media accounts, websites, and other digital content after you pass away. When it comes to your social media accounts, internet passwords, and other digital assets, it’s important to have a plan in place for when you pass away.
Here are some steps you can take:
Keep a record
Make a list of all your online accounts and the associated usernames and passwords, and store it in a secure place, such as a password manager or a safety deposit box. Make sure the list includes all your digital assets, including online accounts, digital files, websites, crypto wallets, NFTs, and other digital content.
Choose a Digital Executor
You need to choose someone you trust to act as your digital executor. Depending on your digital assets you may or may not want this person to be your spouse or child. We all have secrets and in this modern day and time, we usually keep them on our electronics. You need to choose someone you trust to be responsible for deleting the information you want to be deleted and for managing and distributing your digital assets after your death.
If you have a crypto wallet, NFT’s, domains, or other digital assets that have monetary value make sure the person you choose is knowledgeable about those types of assets and how to distribute them.
Update your account settings
Check the account settings for each of your online accounts to see if they offer any options for handling your account in the event of your death. For example, Facebook allows you to appoint a legacy contact to manage your account after your death. If you own domains, websites, Discords, or other online assets that you are in control of, you can add your executor to those accounts.
Create a Digital Asset Will
Consider including instructions for your By utilizing the services of a company that offers a digital afterlife plan, individuals can ensure that their digital assets are properly managed and protected after they pass away and that their digital legacy is preserved according to their wishes. or creating a separate will just for your digital assets. This can help ensure that your wishes are followed and that your digital executor has the necessary authority to access and manage your accounts.
Here are some key elements to include in your digital assets will:
- A comprehensive list of all your digital assets, including online accounts, digital files, and other digital content.
- The name and contact information of the person you appoint as your digital executor, who will be responsible for managing and distributing your digital assets after your death.
- Instructions for how your digital executor can access your digital assets, including login information and any necessary passwords.
- Instructions for how you want your digital assets to be distributed, such as which assets to delete, which to preserve, and which to share with specific individuals or organizations.
- Any specific privacy concerns or instructions related to your digital assets, such as whether to keep certain accounts private or to share them with designated individuals.
- Instructions for how and when to update your digital assets will, to ensure that it stays current with changes to your digital assets and your personal circumstances.
It’s important to keep in mind that laws regarding digital assets can vary from state to state, so it’s a good idea to consult with an attorney to ensure that your digital assets are handled in accordance with your wishes and the law.
Consider a digital afterlife plan
Some companies offer digital afterlife services that allow you to set up instructions for your accounts to be managed after your death. By utilizing the services of a company that offers a digital afterlife plan, you can ensure that your digital assets are properly managed and protected after you pass away and that your digital legacy is preserved according to your wishes. Utilizing a company also will provide an unbiased person to handle your assets and dispose of the ones you want disposed of without anyone in your family needing to do it.
By taking these steps and having an estate plan, you can help ensure that your digital legacy is properly managed after your death.