Planning for Our Digital Lives

Much of our lives are lived online. After we die, we leave a digital imprint that may never be completely erased. A recent article discusses the importance of estate planning for digital assets. Consider the activities you partake in online. You may pay bills, keep up with friends on social media, and manage a variety of financial and other accounts. Although digital access to these services saves us time, online accounts often become a headache for executors who have trouble locating assets managed online. In order to ensure that your executor will be able to discover and appropriately deal with your online accounts, it is important to get organized now. Start by making a list of all of your digital accounts, sites, and services. This may include a Facebook account, online bill-pay services, and investment accounts. Write down the Web site, your login information, and the answers to any security questions. In the document, explain what you would like to be done with the various accounts upon your death. After taking digital inventory, designate a person to be your digital executor. This may be the executor of your estate, but it does not have to be. Be sure to select someone who is tech-savvy and will be able to follow your instructions. Inform this person of your digital asset list so that they can locate it quickly upon your death. If you would like expert assistance in planning for your digital assets, or for any other estate planning questions, please contact us at 818.956.9200.