In today’s digital world, we each leave behind a unique online footprint that tells part of our story. From social media accounts and digital photos to online banking and cryptocurrency, these digital assets are part of your legacy. However, without a plan for managing them, your loved ones could face confusion and frustration after you’re gone. This digital legacy checklist will guide you through securing and preserving your online presence, ensuring your digital assets are handled according to your wishes.
1. Take Inventory of Your Digital Assets
Your digital legacy starts with understanding what you own and where it’s located. Begin by listing all of your online assets and accounts, including:
- Social Media Accounts: Facebook, Twitter, Instagram, LinkedIn, etc.
- Email Accounts: Personal and business email accounts (e.g., Gmail, Yahoo, Outlook).
- Cloud Storage: Services like Google Drive, Dropbox, iCloud, and OneDrive.
- Financial Accounts: Online banking, investment accounts, PayPal, Venmo, and crypto wallets.
- Digital Media: E-books, digital photos, videos, and music collections.
- Subscriptions: Streaming services (Netflix, Spotify), memberships, or software subscriptions.
- Domain Names and Websites: Any websites or blogs you own, especially if tied to a business or brand.
- Intellectual Property: Creative assets like ebooks, artwork, designs, and patents.
Action Step: Create a list with each asset’s login information, including usernames, passwords, and two-factor authentication if applicable. Use a password manager, like LastPass or 1Password, to store this securely.
2. Appoint a Digital Executor
In many states, including Texas, you can designate a digital executor to handle your online assets. This person will manage and distribute your digital assets according to your wishes, as long as you give them legal authority.
- Role of the Digital Executor: This person should know your digital preferences and be able to carry out specific tasks, like closing accounts, memorializing profiles, and transferring files.
- Choosing the Right Person: Select someone who is tech-savvy and trustworthy, as they’ll need to manage secure information and follow your directions carefully.
- Legal Appointment: Work with an estate planning attorney to formally name your digital executor in your estate plan.
Action Step: Sit down with your digital executor to explain your intentions for your digital legacy and provide guidance on handling each type of digital asset.
3. Specify Your Digital Legacy Wishes
Each digital asset has a unique set of options for managing it after death. For example, Facebook allows you to memorialize accounts, while Google offers an Inactive Account Manager to pass on information after inactivity. Clearly specifying your preferences can help your executor follow your wishes.
- Social Media Profiles: State whether you want accounts deleted, memorialized, or maintained. Provide specific instructions for each platform, such as using Facebook’s Legacy Contact feature.
- Email Accounts and Cloud Storage: Detail if these should be closed or transferred. For email, specify any messages or files that may be important for family members.
- Financial Accounts: For accounts like online banking or PayPal, make sure your executor knows how to access these for payment settlements or closure.
- Cryptocurrency and NFTs: Since crypto assets require secure access, provide instructions on handling wallets and transferring assets as appropriate.
Action Step: Document your preferences for each type of digital asset in a digital estate plan. Update these preferences regularly to ensure they reflect your latest accounts and wishes.
Want to explore the importance of a digital estate plan in more depth? Read our post, Digital Estate Planning, Demystified to learn more about specific laws that protect your digital legacy and how a digital executor can support your wishes.
4. Organize and Protect Sensitive Information
Maintaining security over your digital legacy means keeping sensitive information safe yet accessible to your executor when needed. Use secure storage options to hold key details.
- Password Manager: Store account logins, two-factor authentication codes, and other security info in a password manager, accessible by your executor.
- Offline Backup: Consider keeping a physical backup, like a printed list or an encrypted USB drive, in a secure place.
- Legal Documentation: Work with an attorney to ensure your digital legacy instructions are legally recognized in your will or trust.
Action Step: Double-check that your executor has access to the password manager or backup, so they can retrieve your information without additional legal hurdles.
5. Use Estate Planning Tools for Digital Assets
Many platforms now offer estate planning tools designed specifically for managing digital assets. These tools allow you to control access or pass on information easily.
- Google’s Inactive Account Manager: Set up your Google account to automatically share access after a period of inactivity.
- Facebook’s Legacy Contact: Appoint someone to manage your profile as a memorialized account or delete it upon request.
- Apple’s Digital Legacy Program: Add a trusted contact to your Apple account who will receive access to your iCloud and other digital content after death.
Action Step: Activate these built-in features on your accounts to simplify digital asset transfer and streamline the process for your executor.
6. Include Digital Assets in Your Will or Trust
Incorporating your digital assets directly into your estate plan gives them the same legal protection as physical assets. This ensures that your online assets are distributed or managed according to your instructions.
- Add Digital Assets to Your Estate Plan: Specify your digital legacy instructions in your will or create a separate digital estate plan to address these details.
- Designate Beneficiaries: Identify who should receive specific digital assets, such as crypto holdings or valuable digital artwork.
- Consult an Attorney: Make sure your digital legacy instructions align with state laws to avoid legal obstacles.
Action Step: Meet with your estate planning attorney to discuss your digital assets and incorporate them into your will or trust.
7. Regularly Update Your Digital Legacy Plan
Your digital assets will likely grow and change over time, so it’s essential to keep your digital legacy plan current. Revisit your plan every year or whenever you acquire significant new online assets.
- Audit Your Digital Assets: Check that your inventory is up to date and includes new accounts or content.
- Review Executor and Beneficiary Information: Confirm that your digital executor and beneficiaries are still appropriate.
- Update Preferences for Each Asset: Modify your instructions if your wishes change, particularly for personal profiles or content.
Action Step: Set a reminder to review and update your digital legacy estate plan annually or after major life changes.
Conclusion
By following this digital legacy checklist, you can ensure that your online assets are protected and managed according to your wishes. A well-organized digital estate plan not only secures your digital legacy but also provides peace of mind for your loved ones. At Hailey-Petty Law Firm, we’re here to help Texas residents integrate their digital assets into their estate plans with confidence and clarity. Contact us today to discuss your digital legacy and take control of your online legacy for the future.