An often overlooked but increasingly important part of an individual’s estate in today’s world is their digital assets. A digital estate plan outlines how your online accounts and electronic records should be managed or distributed after your death.
What exactly is included in a digital estate plan?
A digital estate plan addresses your online presence and electronic assets. The first step to figure out if you need a digital estate plan is to create a complete inventory of these digital assets. Make a list of all your:
- Email accounts
- Social media accounts (e.g., Facebook, Instagram, X/Twitter)
- Online banking and investment accounts
- Cloud storage (Google Drive, Dropbox, iCloud)
- Subscription services (Netflix, Amazon, Spotify)
- Digital currencies or NFTs
- Domain names or blogs
- Online businesses (e.g., Etsy, eBay, Shopify)
Once you’ve identified your accounts and assets, you’ll need to gather and securely store key access information: usernames, passwords, PINs, and answers to security questions. One common option is to use a reputable password manager or an encrypted document for this purpose.
**Even if you do not want to include this in your estate plan, it is a great idea to make this list for your significant other**
It’s critical that this information is accessible to your executor/trustee—a trusted person who is granted the legal authority to manage, transfer, or close your digital accounts in accordance with your wishes. It is staggering how many assets, digital or otherwise, go unclaimed because the trustee or executor does not know that an asset even exists.
After you have listed out all your assets, the next step is to decide what should happen to each account:
- Memorialize
- Delete
- Transfer
- Retain for business or income purposes
To ensure your digital executor can legally carry out your wishes, include clear language in your will or trust. Illinois has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which provides a legal framework for fiduciaries to access digital assets—but only with your express consent.
Without a digital estate plan, the following could occur:
- Loved ones may be unable to access important records.
- Valuable digital assets may be lost forever.
- Social media accounts may remain publicly active.
- Your identity could be vulnerable to theft.
At The Law Offices of Lauren E. Jackson, we understand that estate planning today means more than just managing physical assets—it’s about protecting your digital legacy too. Whether you’re creating a plan for the first time or updating an existing one, we’re here to guide you every step of the way. Contact us today to schedule a consultation and ensure your wishes are honored and your loved ones are protected—online and off.