In today’s digital age, our online lives have become an important part of who we are. From social medial profiles to financial accounts and personal documents, our digital footprint holds immense value. Yet, many people overlook the importance of a digital asset estate plan for the management of these assets after they become incapacitated or die.
Here is a roadmap to ensure your online legacy is handled smoothly:
- Conquering the Email Mountain
- Think of your email as a digital filing cabinet. Bills, notifications, and even log in credentials for other services might be hiding there. Granting your agent or personal representative access to this information can be a huge help.
- Keep in mind, privacy laws might require you to explicitly allow them to access your emails. The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) can help ensure your wishes are respected.
- Username and Password Wrangling
- It’s time to wrangle those usernames and passwords! Follow the steps outlined in our blog Digital Assets: Organizing Your Online World to create an inventory of all your digital assets. This will be a life saver for your agent or personal representative.
- Security Alert! Wills can become public documents. Never store passwords in your will! Instead, keep this list separate and secure, with clear instructions for your agent or personal representative to find it.
- Consider a password management tool. These digital vaults store all your passwords in one place, accessible with just one master password.
- Charting Your Digital Course
- Don’t leave your loved ones guessing! Clearly outline your wishes for each digital asset. Do you want social media accounts deactivated or archived? What about revenue-generating digital properties like websites or online stores?
- Finding Your Secure Haven
- Once you have created your digital asset estate plan, store it securely! This could be with your attorney, in a safe deposit box, or on a secure online platform. Most importantly, make sure your agent or personal representative knows exactly where to find it.
By following these steps, you can help ensure your digital affairs are handled smoothly, leaving your loved ones with peace of mind and a clear path through your online legacy. Be aware the laws and regulations surrounding data and digital assets are still evolving and vary from state to state. If you or a loved one are thinking of creating a traditional estate plan or want guidance on how to create a digital asset estate plan, contact an elder law attorney. For a consultation with our office, please call (850) 894-0152.
