Digital Assets in Estate Planning: Protecting Your Online Legacy

In today’s digital world, your estate plan must go beyond physical property and financial accounts. Digital assets—everything from email and social media accounts to cryptocurrency and cloud storage—are now a vital part of your legacy and require careful planning to ensure they’re managed according to your wishes.

Why Include Digital Assets in Your Estate Plan?

• Growing Importance: Digital assets are increasingly valuable, both financially and sentimentally, and can include online banking, investment accounts, digital photos, music libraries, and even cryptocurrency wallets.

• Legal Challenges: Without clear instructions, accessing and managing these assets can be legally complex for your loved ones. Many online platforms have strict terms of service that restrict access after death or incapacity.

• Peace of Mind: Proper planning helps avoid confusion, delays, and potential loss of important digital property for your heirs.

  
  

Key Steps to Incorporate Digital Assets

1. Create an Inventory

   • List all digital assets: email, social media, cloud storage, online banking, investment accounts, cryptocurrency, websites, and digital media libraries.

   • Include login credentials and account details (stored securely and updated regularly).

2. Decide How Each Asset Should Be Handled

   • Specify who should have access to each account and what should happen to the content (e.g., transfer, archive, or delete).

   • Consider appointing a “digital executor” to manage your digital assets after your passing.

3. Include Digital Asset Provisions in Your Legal Documents

   • Add language to your will, trust, or power of attorney granting your executor or trustee authority over digital assets.

   • Reference your digital estate plan in your will to ensure it’s not overlooked.

4. Use Platform Tools When Available

   • Many major platforms offer “legacy” or “inactive account manager” features to designate a trusted contact for your accounts.

   • Review and update these designations regularly.

5. Store and Share Your Plan Securely

   • Keep your digital asset inventory and instructions in a secure location, such as a safe or with your attorney.

   • Inform your executor and trusted family members where to find this information.

     
     

Take Action Today

Protecting your digital legacy is just as important as safeguarding your physical assets. If your estate plan doesn’t address digital assets, your loved ones could face unnecessary hurdles. Our firm specializes in helping clients incorporate digital assets into their comprehensive estate plans—contact us to ensure your online legacy is secure.