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Your digital assets need an estate plan

On Behalf of | Feb 5, 2025 | estate planning | 0 comments

Estate planning in the 21st century goes beyond physical assets and bank accounts. Your digital footprint represents a substantial portion of your life and legacy. As you contemplate your estate plan, it is crucial to consider how these digital assets will be managed and preserved after you are gone.

Your digital legacy is just as important

Digital assets can include various online possessions:

  • Email accounts
  • Social media profiles
  • Online banking and investment accounts
  • Digital photos and videos
  • Cryptocurrency holdings
  • Domain names and websites
  • Digital music and book libraries
  • Online gaming accounts and virtual items

Without proper planning, your family might struggle to access or manage these assets after your death. This can lead to disputes, potentially derailing your true wishes and their future.

How to safeguard your digital assets

To protect your digital legacy, consider these steps:

  • Compile a list of all your digital possessions.
  • Decide what should happen to each asset.
  • Choose a digital executor.
  • Make provisions for your digital assets within your will or trust.
  • Use online tools provided by platforms to designate legacy contacts.

Simply sharing passwords with family members may not be enough. In some cases, it could even violate terms of service agreements.

Some platforms offer built-in legacy planning tools, allowing you to choose what happens to your account after you pass away. Still, not all services provide such options, so addressing these assets in your estate plan is essential.

If you are unsure of how to create a comprehensive estate plan, it is best to work with a knowledgeable attorney to help you out. This action can provide comfort and assurance to you and your loved ones.