The stakes of digital estate planning

On Behalf of | Jan 28, 2025 | Wills

If you are like most Americans, you likely process much of your life experience online. From social media accounts and cloud storage to email and subscription services, digital assets are a significant feature of modern life. Yet, many people overlook these assets when creating an estate plan, which can lead to confusion, lost value and legal complications for loved ones after their passing. 

Digital estate planning addresses these issues, helping to ensure that your digital life is properly managed and preserved according to your wishes in the event of your incapacitation or death. 

Why digital estate planning matters

Digital assets potentially represent either (or both) personal and financial value. Without a plan, these assets may be inaccessible, lost or mismanaged after you pass away or if you are suddenly so injured or ill that you cannot manage them on your own. 

Digital assets like online investment accounts and even rewards points or loyalty programs can have real financial value. If no one has access to these accounts, your loved ones may lose money or benefits that could otherwise support them.

Photos, videos and personal documents stored in the cloud or on social media are often cherished by families. Without proper access instructions, these digital keepsakes could be permanently lost.

Additionally, unattended digital accounts are vulnerable to hacking and identity theft. A comprehensive digital estate plan helps to ensure that these accounts are properly secured or closed after your incapacitation or death, protecting your identity and preventing fraudulent activity.

Finally, without clear guidance, your loved ones may face significant stress and legal hurdles trying to access or manage your digital assets. A well-prepared digital estate plan can provide clarity and make it easier for your family to handle your affairs.

While engaging in estate planning is rarely a simple process, it is a necessary one. Seeking legal guidance and support can make this task more straightforward.