As technology continues to shape how we live, work, and manage our finances, it has also changed what an effective estate plan looks like. Today, many of our most important assets exist online—yet digital estate planning remains one of the most overlooked parts of a comprehensive estate plan.
Without proper legal guidance, digital assets can be extremely difficult for loved ones or fiduciaries to access after death or incapacity.
Digital Assets in Estate Planning
Digital assets include any electronic record or online account that you own, use, or control, such as:
- Online banking and investment accounts
- Cryptocurrency and digital wallets
- Email and electronic communications
- Social media and online profiles
- Cloud-based storage for photos, documents, and memberships
- Subscriptions
- Websites, blogs, and online business assets
While some digital assets have financial value, others—such as photos or social media accounts—may hold significant sentimental value and should also be addressed in your estate plan.
Why Digital Estate Planning Matters
Without proper planning, family members and fiduciaries may face legal and practical barriers when attempting to access digital accounts.
A well-drafted estate plan can:
- Identify digital assets
- Authorize a trusted fiduciary to manage them
- Prevent delays, confusion, and unnecessary complications
Online Financial Accounts and Social Media
Many financial accounts now exist solely online. If these accounts are not identified, assets can be overlooked during estate administration. Cryptocurrency presents unique challenges, as access credentials may be the only way to recover the asset.
Social media accounts also require planning—whether an account should be memorialized, transferred, or deleted. If an individual earns income through online platforms, they can designate someone to manage those accounts after death.
Planning for the Digital Age
When creating or updating your estate plan, it is important to appoint a trusted individual to manage your digital assets and to maintain an organized record of your online accounts. Doing so can reduce stress, delays, and confusion for your loved ones.
As our lives continue to move online, estate planning will continue to evolve. Taking the time to plan for your digital assets now helps protect your legacy and ensures nothing is overlooked. If your current estate plan does not address digital assets, speaking with an estate planning attorney is an important next step.
