Lawbrarian

Digital Estate Planning: Managing Your Online Life After Death

By Lawbrarian Editorial Team
Published
Summary
From social media accounts to cryptocurrency, digital assets require special estate planning considerations. Here's how to prepare.

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What Are Digital Assets?

Digital assets include email accounts, social media profiles, cloud storage, digital photos and videos, websites and domain names, cryptocurrency and digital wallets, online banking and investment accounts, digital subscriptions, and loyalty program points.

The Legal Framework

The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), adopted by most states, provides a framework for fiduciary access to digital assets. It establishes a priority system: the user's online tool (like Google's Inactive Account Manager) takes precedence over estate planning documents, which take precedence over the platform's terms of service.

Steps for Digital Estate Planning

1. Create a digital asset inventory: List all accounts, websites, and digital assets with login information. Store this securely (consider a password manager with emergency access features).

2. Use platform tools: Many platforms offer legacy or memorial features — Google's Inactive Account Manager, Facebook's Legacy Contact, and Apple's Digital Legacy Program.

3. Include digital assets in your estate plan: Your will or trust should specifically address digital assets and grant your fiduciary authority to access, manage, or delete them.

4. Appoint a tech-savvy executor: Consider designating someone comfortable with technology to manage your digital assets, even if your primary executor handles physical assets.

Cryptocurrency Considerations

Crypto assets present unique challenges because they require private keys for access. If these keys are lost, the assets may be permanently inaccessible. Store keys securely and ensure your executor knows how to access them.