Estate planning isn’t just about passing down physical assets like homes, bank accounts, and investments. In today’s digital world, your online presence and digital assets—such as financial accounts, important documents, and even social media profiles—are just as important to secure and plan for. If you don’t take the right steps, these assets could be lost, misused, or even stolen after your passing.
Why Digital Estate Planning Matters
Think about how much of your life exists online—bank accounts, email, investment portfolios, and even treasured digital photos. Without clear instructions and security measures in place, your loved ones may struggle to access these accounts or, worse, cybercriminals could take advantage.
By incorporating cybersecurity best practices into your estate plan, you ensure that your digital legacy is protected and accessible to the right people when the time comes.
What Digital Assets Should You Include?
A digital estate plan should cover:
- Online financial accounts—Bank accounts, investment platforms, retirement accounts
- Email and cloud storage—Accounts containing important documents or personal data
- Social media accounts—Profiles on Facebook, Instagram, LinkedIn, and others
- Online businesses and intellectual property—Websites, domain names, royalties
- Subscription services—Streaming services, software subscriptions, and memberships
Without proper planning, your loved ones may struggle to locate or access these assets, potentially losing valuable information and financial resources.
6 Steps to Secure Your Digital Assets
1. Make an Inventory of Your Digital Assets
Create a secure list of all your important digital accounts, including:
- Website URLs
- Usernames
- Passwords
- Security questions and answers
Keep this inventory encrypted or stored in a secure location (such as a password manager or a safe deposit box) and only share it with a trusted executor or attorney.
2. Use Strong Authentication for All Accounts
- Enable multi-factor authentication (MFA) for banking, investment, and email accounts
- Use unique, strong passwords for each account
- Store login details in a password manager for added security
3. Secure Estate Planning Documents
Your will, trust, and power of attorney should address digital assets. To protect them:
- Store digital copies in an encrypted cloud storage service or password-protected USB drive
- Keep physical copies in a secure place like a safe deposit box
- Ensure your executor or attorney knows where to find them
4. Designate a Digital Executor
Many states allow you to name a digital executor—a trusted person who can manage your online accounts and digital assets after your passing. This person should:
- Be comfortable handling online accounts and cybersecurity
- Know where your digital asset inventory is stored
- Follow your wishes for transferring or closing accounts
5. Protect Against Cyber Fraud and Scams
Unfortunately, scammers often target estates, attempting to impersonate heirs or gain unauthorized access to assets. To prevent fraud:
- Warn your heirs about common inheritance scams
- Ensure your digital executor verifies all account requests
- Never share sensitive information over email or phone unless verified
6. Plan for Your Social Media and Online Accounts
Many platforms allow you to set up legacy contacts or instructions for what happens to your accounts:
- Facebook and Instagram—Set up a legacy contact to manage your profile or request account deletion
- Google—Use Google’s Inactive Account Manager to specify what happens to your data
- Apple ID and iCloud—Apple now allows users to designate a Legacy Contact to access their data
- LinkedIn and Twitter (X)—Heirs can request account closure with proof of passing
Planning ahead ensures your accounts don’t remain active indefinitely or fall into the wrong hands.
Taking action today
Estate planning isn’t just about distributing wealth—it’s about protecting it. Digital assets are increasingly valuable, and failing to plan for them can create unnecessary stress for your loved ones.
Here’s what you can do now:
- Start documenting your digital assets
- Secure your accounts with strong passwords and multi-factor authentication
- Speak with your estate planner about including digital assets in your will or trust
- Choose a trusted digital executor to manage your online presence
By taking these steps, you ensure your financial and personal digital legacy is secure, accessible, and passed on according to your wishes. Reach out to our team with any questions you have.