If you are like most adults in the U.S., many aspects of your life are conducted online. From managing finances and storing important documents to sharing memories on social media and researching the latest books, your digital footprint says a lot about who you are. As a result, of this reality, the concept of a “digital estate” has become increasingly important in recent years.
A digital estate is part of your eventual legacy that includes all of your online accounts, digital assets and electronic information. If you do not consider your digital footprint carefully, your loved ones may face significant challenges in accessing or managing these digital assets after you have passed away, which is one of the primary reasons why it’s important to address your digital estate in your estate plan, if you have not done so already.
Making a plan
Your digital estate encompasses a wide range of online assets and accounts. You’ll want to consider each when estate planning. Some of the most pressing concerns that you’ll want to address include:
- Email accounts: Personal and business emails often contain important correspondence, documents and account information.
- Social media profiles: Facebook, Instagram, X and other social platforms may store a wealth of your personal memories and interactions.
- Online banking and investment accounts: These accounts hold financial assets that your beneficiaries will need access to.
- Digital photos and videos: Stored on cloud services, these assets often have significant sentimental value.
- Online subscriptions and services: From streaming services to cloud storage, these accounts may need to be canceled or managed.
- Domain names and websites: If you own a website or domain, it’s part of your digital estate.
Without clear instructions about how you wish for them to manage your digital estate, your loved ones could face numerous challenges after your passing. For example, many online services have strict privacy policies, making it difficult for heirs and estate administrators to access accounts without prior authorization. Additionally, if your beneficiaries cannot access online financial accounts or your intellectual property, they may lose valuable assets.
Ultimately, by formalizing your intentions for your digital estate, you will better ensure that your wishes concerning anything having to do with your online activity are upheld. As you likely live much of your life online, this is not an insignificant concern.