Ruth-Ann E. Toups
Why You Need a Digital Estate Plan and How to Create One
How often do you use the internet? Every day? Every hour? Every minute? As technology develops we find ourselves relying more and more on the internet for our daily tasks. Our communication, banking, and even our groceries can be tied to our online activity. Given our reliance on digital tools, it is essential that we consider our digital assets as items that should be planned for, just like our traditional assets. Here are some easy steps to get your digital estate plan started:
1. Make a list of your digital accounts. The key to an effective digital estate plan is to keep a list of where your accounts are and how to access them. Be sure to think carefully about accounts you use regularly as well as accounts you may not have used in some time but are still active.
2. Choose a person to oversee your digital assets. This person may be the same person that you name as the executor in your will, or it may not. If you want to choose someone other than the named executor in your will, be sure to make this clear in writing. Additionally, be sure your will has specific language that addresses digital assets.
3. Consider any specific directions you may wish to make with respect to your digital assets. If you have a specific desire regarding your digital assets, perhaps like how you would like a social media account handled after your death, be sure to put those in writing.
As we turn more and more to technology it is important to remember to incorporate these assets into our estate plans.