Digital Estate Planning: Securing Your Online Assets

While you’re probably used to estate planning involving houses, bank accounts, and family heirlooms, it can also include digital assets. A large part of our lives and our legacies exists online. Your email account, social media profiles, online banking, cloud storage, and even digital investments are also a part of your estate. Without proper planning, loved ones may be left struggling to access these accounts or manage important digital property after you’re gone. Digital estate planning ensures that your online life is handled with the same care as your physical and financial assets.

What are digital assets?

Digital assets can include anything of value that is stored or managed electronically. Common examples include:

• Email accounts and cloud storage services such as Google Drive, iCloud, and Dropbox
• Social media profiles such as Facebook, Instagram, LinkedIn, or X
• Online financial accounts, including PayPal, Venmo, cryptocurrency wallets, and investment platforms
• Digital business assets, such as websites, blogs, or intellectual property that is stored online
• Entertainment and media libraries such as iTunes, Kindle eBooks, or digital photo collections

Some assets carry financial value, while others hold sentimental value for families, such as family photos, videos, or personal writings.

Why planning matters

Unlike physical assets, digital property usually comes with strict privacy and password protections. Without legal authority, a family member could find it extremely difficult to access these accounts. In some cases, providers may even delete accounts due to inactivity. Digital estate planning can help avoid these problems by authorizing a trusted individual to manage, transfer, or close accounts in accordance with your wishes.

Key steps in digital estate planning 

• Take inventory – You can start by creating a list of your digital assets and online accounts. This would include usernames, account numbers, and a secure way for your executor or family to access passwords.

• Decide how each asset should be handled – Do you want your social media accounts memorialized or would you prefer them closed? Should cryptocurrency or online investments be transferred to heirs? You’ll want to decide in advance how each account should be managed.

• Update legal documents – In Virginia, you can address your digital assets within your will, trust, or power of attorney. The federal Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) gives your executor and agent limited authority, but only if you grant that authority in writing. A Virginia Beach estate planning attorney can ensure your documents comply with state and federal law.

• Use legacy tools where available – Many providers now offer “legacy contact” features. For example, Facebook allows you to name someone to manage your profile after you pass. Apple also offers a Legacy Contact program for iCloud data. Such tools should be coordinated with the rest of your estate plan.

• Keep your plan updated – Similar to financial accounts, digital assets change over time. Review your list of accounts regularly to keep your information current.

Talk to a Virginia Beach, VA, Estate Planning Attorney Today

The Law Office of Angela N. Manz represent the interests of those seeking to form a comprehensive estate plan, including digital assets. Call our Virginia Beach estate planning lawyers today to schedule an appointment, and we can begin discussing your next steps right away.