Continuing The Tradition Of EXCEEDING EXPECTATIONS

  1. Home
  2.  » 
  3. Estate Planning
  4.  » Why do all adults need a digital estate plan?

Why do all adults need a digital estate plan?

On Behalf of | Mar 5, 2024 | Estate Planning |

Take a minute to consider what you do online every day. How many accounts do you access that require a login? What do you store in the Cloud? Do your loved ones know how to access your digital footprint in these ways and what you’d like done on your behalf in the digital realm in the event of your incapacity or death? 

Digital estate planning helps to ensure that all adults can address their digital assets just as they would their physical property in a broader estate planning context. All adults should maintain a current digital estate plan, as one never knows when it will become urgent business for any particular individual’s loved ones.

The potential benefits of making this effort

Digital assets encompass a wide range of elements, from social media accounts and digital files to online banking and investment accounts. Depending on the ins and outs of your digital footprint, your assets could have sentimental and/or financial value. Either way, it’s important to safeguard them. Without a clear plan, accessing or managing these assets can become a significant challenge for your loved ones in the event of your incapacity or death, potentially leading to the loss of significant personal memories and financial resources.

It’s also worth noting that platforms and service providers have differing policies on posthumous access and account management. A digital estate plan can provide clear instructions and legal authority for executors or designated individuals to manage your assets, which can allow them to navigate these complexities more effectively and follow your wishes.

At the end of the day, addressing your digital assets within your estate plan is a consequential effort worth making, no matter what phase of your adult life you’re in. Keep in mind that if you have questions or need help, seeking legal guidance is always an option.