Organizing your digital assets

On Behalf of | Dec 8, 2020 | Estate Planning

Many individuals do a great job of preparing their wills and including all physical assets. In many instances, however, they forget their digital assets. It is important for your loved ones to have control of this digital information, which is why you should organize these digital assets for them.

Put your digital information in your plan

You should keep your digital asset information in your estate plan in order to prevent identity theft that your family would have to deal with. You can also better prevent other individuals and scammers from using your social media accounts. Be sure that your beneficiaries know to delete your social media accounts after your death, and provide all passwords to them. Make sure that your beneficiaries also have access to your digital bank information to receive the assets that are located in them and to shut down the accounts when necessary.

Remember your passwords

You should be sure to write down your passwords to your digital asset accounts and social media pages. There are password management tools that you can use to save the various passwords you have. Many accounts, including PayPal, even have legacy contacts who can get into your account without a password after you die.

Use the cloud or other digital space

Consider creating a cloud account, or a digital storage space of some form, in which you can input all of your estate documents. This will allow your beneficiaries to have access to this information in one central location without worrying about sorting through it all.

Estate planning is no small task, but it should always include maintaining your digital assets as well. For information on managing your digital assets, you may want to contact an estate lawyer.