Digital Assets

  • Published: Wednesday, Feb. 5, 2020

Have you ever considered what you should do with your digital assets in the case of your death? What information will your loved ones need to know in the event of your passing? If you begin to think about all of your online accounts and presence you will realize how these items make up your digital footprint.

Maybe it is time that you start to create a plan. Take inventory and document all of your digital assets. These may include:

  • Bank accounts
  • Automated payments
  • Credit/debit cards
  • Email accounts
  • Mortgages and loans
  • Social media
  • Retirement accounts
  • Cryptocurrency

You can add all of the information you have collected to your will or final settlement. Your designated executor can have the information of how to access these accounts and your wishes for how to deal with them.

Some service providers have included varying methods of how to handle the account of deceased users. Facebook, for example, created the legacy contact where you can name someone to manage your account once you have passed. You will need to investigate the terms of service agreements on each of your social media platforms.

Take the time now to clean up and document your digital assets. Abandoned accounts are susceptible to hackers. Avoid the unnecessary pitfalls and problems that leaving these items behind could create.

Resources:

What You Should Know about Digital Inheritance