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How to Protect Your Digital Legacy

Learn how to incorporate digital assets into your estate plan to carry on your legacy in an increasingly digital world.

Lydia Hill '21

Illustration by Drifting Creatives; Animation by Allison Shaffer '21

March 7, 2022

Be sure your loved ones know what to do with your digital assets and have the information to carry out your wishes!

You finally sat down and created your estate plan. You’ve made provisions for your finances, real estate, investments and other physical and monetary assets. But who will be responsible for the family photos on your computer or smartphone? What will happen to the book you’re writing in Google Docs or your blog full of your family’s famous recipes? Who will access your social media and email accounts?

As technology evolves, so does estate planning. In today’s online-centric world, no plan is complete without your digital assets, so read on to learn how to provide for these virtual resources and bring your estate plan into the 21st century.

What Are Digital Assets?

Digital assets are any assets stored on hard drives, computers, smartphones and online accounts.

These include:

  • Email and social media accounts
  • Owned domains or blogs
  • Bank and investment accounts
  • Cryptocurrencies
  • Services such as PayPal, Amazon and Netflix
  • Loyalty rewards programs
  • Text messages and other communications
  • Photos and videos
  • Music
  • Documents and other files

 

If not adequately provided for, digital assets can present unique difficulties for loved ones when someone passes away. Because they are newer than traditional assets, digital assets are often overlooked in estate plans, leaving friends and family members unsure of the deceased person’s wishes. They can also become difficult or impossible to access if no one knows the login information for online accounts, and service providers might not grant access because of their privacy policies.

How Can I Provide for These Assets in My Estate Plan?

Follow these steps to ensure that your digital assets will be provided for without causing additional stress or confusion for loved ones.
 

Compile a list of your digital assets.

This inventory can be created similarly to one for physical assets. Pay special attention to any digital asset with intrinsic value, such as cryptocurrency or a monetized blog, and inform your counsel of these items to ensure they are properly included in your estate plan.

Write down passwords.

List the login names, passwords and answers to any security questions for all your digital accounts to ensure the appropriate people can access your assets. Store this list in a safe place.

Designate your wishes for your digital assets.

Maybe you want your brother to own your photos and share them with any family members who want a copy. Perhaps you decide that the website domain for your family business will be transferred to your daughter, who has inherited the business. You might choose to split the resources from your monetized digital assets to support your children and your favorite charity. Whatever your wishes, make sure they are in writing so that your loved ones can confidently carry them out.

Appoint a digital executor.

Like a traditional executor, a digital executor is someone who will manage your digital assets according to your wishes. You can also include language when designating a power of attorney to allow that person to handle your digital assets if you become incapacitated.


By taking actions like these, you can ensure that your digital assets will transfer securely, giving you and your loved ones peace of mind that nothing will become lost in cyberspace.


For more information on estate planning, contact Angela Throne ’03 at the bottom of this page.

 

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