If you are forming a comprehensive estate plan to ensure the effective distribution of your assets after your death, you may not be aware of one emerging area in this field. In today's technological world, protecting your digital legacy is something you can plan for in your overall estate plan.
There are many things to consider when it comes to protecting your digital legacy after your death, and you should include this as a facet of your end-of-life planning.
What is a digital legacy?
Digital legacy is the term that describes the entirety of your digital life. This means all of your online accounts, such as banking, social media, email and any other online account your heirs would be unable to access after your death. It is important to consider all of these accounts as your digital assets, and to plan accordingly for how to distribute them after your death.
What is the first step in protecting your digital legacy?
The first thing you need to take care of regarding your digital legacy is drafting a will and naming a personal representative called a fiduciary. Your fiduciary should be someone you trust to hold and manage property that belongs to your beneficiaries after your death. In terms of your digital legacy, the fiduciary will have access to your digital assets. The important thing is that you plan in advance not only for how to distribute your property and other assets such as investments, but also about how to preserve and protect your digital legacy.
A comprehensive estate plan includes not only financial decisions but also decisions about your digital profile. Protecting your digital legacy is something to examine as you look at all of your decisions about how to manage your affairs after you die. Do not leave your digital legacy to chance; plan in advance so your decisions do not get neglected.