While traditional estate planning generally focuses on tangible assets, medical concerns, guardianships for minor children and financial accounts, a digital estate plan covers everything from social media profiles to digital currencies. Essentially, if you draft a digital estate plan, you’ll use it to manage your wishes concerning your digital footprint in the event of your death or incapacitation.
Digital assets can range from online bank accounts and investment portfolios to digital currencies and intellectual property that has been stored digitally, including photographs, videos and written work. These assets can hold significant financial and/or sentimental value, which is why it is important to address them as part of your broader estate planning efforts.
Consider your online presence, as well
Social media accounts, blogs and other online profiles are aspects of most modern personal legacies. A digital estate plan can outline what should happen to these profiles after your death or in the event of your incapacitation—whether they should be memorialized, deactivated or managed by someone else. Without clear instructions, these accounts can remain online indefinitely, potentially causing distress to loved ones or compromising your privacy.
Additionally, chances are that you manage many aspects of your life via digital means, from utility bills and subscriptions to important personal and business emails. Providing legal access to these accounts can make it easier for executors and family members to manage your estate, close accounts and fulfill your final wishes without the added stress of navigating digital barriers.
Creating a digital estate plan may seem like a daunting task, but it can serve as an important extension of traditional estate planning and, therefore, should not be dismissed. Seeking personalized legal guidance can help you to get started in efficient, effective ways that meet your unique needs.