Do You Have a Plan for Your Digital Assets?

According to the Pew Research Center, 93 percent of U.S. residents use the internet, with three-in-ten U.S. adults stating that they are “almost constantly” online. Life in the digital age requires a multitude of usernames and passwords, each essential to access devices, websites, apps, and more.

What happens to your digital presence if you should become incapacitated or when you die? Do you have a plan in place for your digital assets? What is a digital asset?

Digital assets are:

  • Accounts, documents, information, records, and photos that are primarily accessed by an individual via an electronic device;
  • Email and social media accounts;
  • Websites;
  • Online purchasing and sales accounts;
  • Files stored in the cloud (including important passwords);
  • Electronic communications (including text messages);
  • Digital currency;
  • Gaming, music, video assets;
  • Subscription services; and
  • Blogs.

Develop a plan

It is important to think long-term when it comes to digital assets. Consider taking inventory of your digital assets and discussing what you would like to happen to your online presence when you die or if you become incapacitated. Share passwords and logins with a trusted family member. A password manager is a secure program that stores all of your online logins and passwords. Consider sharing this login with someone you trust or place the login information in a sealed envelope for future use.

The estate planning attorneys at O’Reilly Rancilio are available to answer your questions regarding digital assets. If you have questions, please call 586-726-1000 or visit our website.

Categories: Estate Planning