The Importance of Digital Estate Planning: Protecting Your Online Assets

In today’s age of technology, it is crucial to consider what will happen to your digital assets after you pass away. This process is known as digital estate planning. Elizabeth Ayoola, a personal finance expert, emphasizes the significance of planning for the fate of your digital assets. Ayoola suggests creating documentation that outlines your last wishes and what you want to be done with your online accounts and files.

Digital assets encompass a wide range of information, including iCloud files, Amazon account data, and more. Ayoola advises finding a trustworthy individual who can act as a digital executor and handle your digital assets after your death. It is important to provide this person with the necessary passcodes to access your devices, especially those connected to two-factor authentication for your online accounts. Additionally, keeping an updated list of passwords and specifying any items you want deleted is crucial.

Preparing an inventory of your online accounts and digital files is one of the most helpful actions you can take to assist your loved ones in the future. Ayoola also highlights the importance of being aware of subscription services to prevent unnecessary charges when platforms are no longer being used. Consulting with a lawyer to understand the laws regarding digital assets in your state is recommended, as different digital platforms have varying rules.

NerdWallet advises against including sensitive information, such as passwords, in your will, as this document becomes public after your death. Instead, it is suggested to keep the inventory and instructions with other estate planning documents. Online storage sites like Everplans or LifeSite can help organize your information securely.

Both Apple and Android provide the option to add a legacy contact to your phone, granting immediate access to your data in the event of your passing.

In conclusion, taking the time to plan for your digital assets is crucial in today’s digital age. By following the advice of experts like Elizabeth Ayoola and utilizing tools and resources available, you can protect your online assets and ensure your loved ones can handle your digital presence appropriately after you’re gone.

Sources:
– Erin Miller, Scripps News Norfolk
– NerdWallet