Your online life is a treasure trove of memories, information, and even financial assets. Without proper planning, these assets could be lost forever or fall into the wrong hands. As a result, it is becoming increasingly important to protect not only your physical assets but also your online life in your estate plan. With the majority of our personal and financial information stored online, it is crucial to have a plan in place to ensure that your digital assets are properly managed and protected after you pass away.
Inventory Digital Assets
One of the first steps in protecting your online life in your estate plan is taking inventory of all your digital assets. This includes everything from social media accounts and email accounts to online photo albums and digital subscriptions. Make a list of all your accounts and passwords, and store this information in a secure location that your loved ones can access when needed.
Appoint a Digital Executor
Consider appointing a digital executor in your estate plan. This person will be responsible for managing your digital assets after your death, including closing accounts, transferring ownership of digital property, and ensuring that your wishes are carried out regarding your online presence. Choose someone you trust who is tech-savvy and capable of handling the complexities of managing digital assets.
Remember Financial Accounts
When thinking about your digital assets, it is important to consider not only your social media accounts and email accounts but also any financial accounts or online subscriptions you may have. Without proper planning, these accounts could be locked or inaccessible to your loved ones after your passing, potentially causing unnecessary stress and complications during an already difficult time. By including details about how to access and manage these accounts in your estate plan, you can make the process smoother and more manageable for those left behind.
Make Plans For Your Online Estate Today
Whether it’s your social media accounts, email accounts, cloud storage, or cryptocurrency wallets, James C. Provenza & Associates, P.C. can assist you in creating a comprehensive plan to safeguard these assets. By designating a digital executor, specifying how your accounts should be managed, and providing access to important passwords, you can have peace of mind knowing that your online life will be handled responsibly after you’re gone.
One of the biggest mistakes that you can make is waiting to plan your estate until you’re already nearing the end. Don’t wait to plan your estate, including making provisions for your online assets. Work with an estate planner to make sure that everything is protected. Call James C. Provenza & Associates, P.C. at (847) 729-3939 to schedule a free consultation.
