When people think about estate planning, they often focus on physical assets like homes, bank accounts and retirement funds. However, it is increasingly likely that a person’s online presence and digital assets are potentially as consequential as their physical assets.
From social media accounts and email to subscription services and cloud storage, your digital legacy needs to be carefully considered to better ensure that it is protected and managed according to your wishes after you pass away.
What is a digital legacy?
Your digital legacy includes all of the online accounts, digital files and electronic assets you own or that are otherwise associated with your name. Thinking about any account you have that is password-protected is a good way to start. These can include:
- Social Media Accounts (Facebook, Instagram, LinkedIn, etc.)
- Email Accounts (Gmail, Yahoo, Outlook, etc.)
- Online Banking, Wallets & Investment Accounts
- Cloud Storage (Google Drive, Dropbox, iCloud, etc.)
- Subscription Services (Netflix, Spotify, etc.)
- Personal Websites & Blogs
Without proper planning, family members may struggle to access these accounts or may be unaware they even exist after your passing. Arguably worse, some digital assets could be lost forever if no one has the necessary login credentials.
Protecting your digital legacy is an effort worth making
If online accounts remain open and unmonitored after a person’s passing, they could be vulnerable to hacking or fraud. Criminals often target inactive accounts to commit identity theft. A clear digital estate plan can help your loved ones close or secure accounts properly. This is going to be particularly important if you have digital assets that are associated with concrete financial value, such as online businesses or domain names.
To that end, it’s important to consider that managing digital accounts after someone’s death can be overwhelming, especially if no one knows how to access them. A digital estate plan can simplify this process and help your loved ones settle your affairs more efficiently. Making your wishes explicit can also help to ensure that they are ultimately respected.
If you aren’t sure how to get started, that’s okay. Consider seeking personalized legal guidance and support to help you achieve your estate planning goals, digital and otherwise.