Tips on preparing and securing your digital estate plan

In today’s digital world, your online presence encompasses valuable assets from financial accounts and cryptocurrencies to cherished photos and social media profiles. Without proper planning, these digital assets can become inaccessible when you pass away, creating significant challenges for your loved ones trying to manage your affairs.

Creating a comprehensive, secure digital estate plan helps ensure your digital assets are managed according to your wishes and accessible to those you designate. 

Create a complete digital inventory

Begin by cataloging all your digital assets and accounts, including email, social media, financial platforms, subscription services and digital storage. For each entry, record the platform name, account information, purpose and approximate value if applicable. Be thorough in documenting cryptocurrency holdings by securely recording wallet information, public addresses and private keys – without this information, these assets could be permanently lost. Update this inventory regularly as you create new accounts or close old ones to maintain its accuracy.

Implement secure password management

Use a reputable password manager to securely store login credentials for all your digital accounts. These tools create and store complex passwords while providing a simple way for your designated digital fiduciary to access them when needed. Choose a master password that balances security with memorability, and consider storing this password separately from your other estate planning documents. 

Designate a tech-savvy digital executor

Select someone with technical knowledge and trustworthiness to serve as your digital executor. This person will be responsible for executing your wishes regarding your digital assets and navigating complex online systems. Provide clear written instructions about your preferences for each account – whether to memorialize, transfer ownership, archive or delete. Consider naming an alternate executor in case your first choice is unavailable when needed.

Document your plan properly

Incorporate your digital estate plan into your overall estate planning documents without including sensitive information like passwords in your will. Reference the existence of your digital asset inventory and name your digital executor, but keep actual access information in a secure, separate document that won’t become public record during probate.

Seeking legal guidance helps ensure your digital estate plan complies with relevant laws while integrating seamlessly with your overall estate strategy.