A recent survey revealed that up to 63% of people don’t know what happens to their digital or online assets after they pass away. Whether it’s iCloud, Twitter, Facebook, Instagram or any other online application, experienced and knowledgeable estate planning advice goes a long way into the digital and advanced technology as of now.
Many people employ a number of different types of digital assets, whether it’s an online retail account, a website or a blog, music sites, retailer apps and more. In most of these cases people will need your password or username information to log in and carry out any of your wishes.
Make sure that you have a secure inventory of these digital assets and a way for your loved ones to be able to access this information if something were to suddenly happen to you. You also need to realize that specific rules may apply with service agreements and digital executors, that make these tools unique. Online tools, for example, may be affected by the revised uniform fiduciary access to Digital Assets Act of 2015. This allows someone to determine the ultimate disposition of a digital asset.
Google’s inactive account manager will automatically alert someone if their account remains unused for a set period of time. Failing to respond to the alert in a timely fashion allows Google to notify a family member or a friend or the person you have named as your digital executor to confirm your death prior to carrying out instructions.
If you have digital assets- and you probably do- make sure you review the application’s terms of service. In addition to safely storing your own passwords somewhere, you might want to figure out if there are any website-specific rules you need to follow to allow someone else into your account after you pass away.
Do you need more information on what you should do with personal property, including digital media? Contact a Massachusetts estate planning lawyer for more information.