After our physical death, most of us will continue to live on through the Internet. Although more and more individuals are beginning to handle their social, financial, and business affairs online, many forget to plan for their digital assets after their death. A recent article discusses the digital afterlife.
As Hillel Pressor, author of the book “Asset Protection Secrets” explains, “Digital media tends to be an asset that people never even think of to protect, or to include in their estate planning. So the most important thing they can do is educate themselves and understand that they need to do these things.” Digital assets may include photos, ebooks, music and video files, online financial accounts such as bill paying and banking, and social media. Each of these is a digital asset that will need to be handled after your death.
Begin your digital estate plan by compiling a list of every digital asset you have. In this list, include login information such as a username and password. Importantly, do not include this information in your will, as wills become public information. Instead, put this document in a safe place where it can be found when the time comes.
The person who you select to administer your digital estate is called your digital estate planner. Be sure that this is someone you trust to carry out your wishes. It is good practice to communicate your wishes directly with this person so they can ask you if they have any questions.
For information on digital estate planning, contact us at (626) 696-3145.
