What to include in a digital estate plan

By Pat Simasko

It seems as though our entire lives are stored behind an electronic screen. We do everything from banking to grocery shopping with the push of a button. But as the digital world continues to expand, so do our digital footprints. What does this mean when it comes to estate planning and what information should we include for the loved ones we’ll leave behind?

When you think about it, you probably have more than a dozen online accounts. The first that comes to mind probably are your social media accounts such as Facebook and Instagram, followed by your email. But if you do any online banking, shopping, gaming or blogging, you most likely have separate accounts and profiles for each. All of these different components are your digital assets, and they must be accounted for in your estate plan. If they aren’t, it will be nearly impossible for your loved ones to get access to them once you’re gone.

As you’re planning your digital estate, one of the first things you’ll want to do is to make a list of all your accounts followed by their login credentials. This includes passwords to personal devices, email accounts, financial accounts, utility and property services, streaming accounts, home-security accounts and subscription services. It seems tedious, but it could be a lifesaver for family members after you’re gone. There are digital assets forms you can find online to help organize this information. After the forms are completed, be sure they are stored in a safe and secure place.

Next, you’ll want to have written instructions for handling these accounts. That’s because there are federal and state laws that prohibit any unauthorized access to computer systems and personal information. These laws intend to protect you from being a victim of fraud and identity theft, but they’ll also block your loved ones from accessing your digital assets if you don’t provide authorization. It’s important to note that you are the only one who can permit others to access your account, so be sure to be very specific about who has access to your digital assets and how you want them dealt with. You can also simply appoint a digital executor if you choose.

Living life online is a fairly new concept which means there are still a lot of gray areas and unknowns about how everything works. And frankly, it can be quite overwhelming. To help ensure your digital plan aligns with your wishes, be sure to reach out to an estate lawyer. They can help you create a plan that is specific to your digital life, helping make sure your digital estate gets executed as you wish.

Pat Simasko is an investment advisory representative of and provides advisory services through CoreCap Advisors, LLC. Contact him at [email protected].