Digital estate planning checklist pdf software#

The phrase “estate plan” may sound grand, but it’s a very practical set of documents that everyone should have.

Business savings and money market accounts.

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Digital estate planning checklist pdf software#

Password management software like LastPass or 1Password may be useful for this because they can store multiple passwords but need only one to access. Record them separately and make sure your executor can find them. Remember though, that this information shouldn’t be included in your will, as that becomes a public document when you die. Make a list of assets with usernames and passwords and include the credentials so that your estate manager can access them.

Do note that, as a privacy measure, the RUFADAA does require you to leave specific permission for an executor to access email messages. The content of your email may also be important for sentimental value or help to settle the estate. These may be one of the most important assets to plan for because they allow your beneficiaries to access bills and notifications, and often serve as access credentials for other digital services. Start organizing your digital assets with these steps. As mentioned, those agreements often restrict access to the original owner. If neither of the first two scenarios are present, the terms-of-service agreement dictates how those accounts can be accessed. If there isn’t any tool, then the owner’s directions in a will or legal document determine the handling of the account or asset. For example, if you used Google’s inactive account manager to designate a family member, this designation would guide what happens to your Google assets. If a digital service provides a tool to designate what happens to assets after you die, this designation guides what happens to the account. Many states have adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which lays out three tiers for accessing digital assets: If you don’t leave specific instructions regarding who can access these assets (and how), your loved ones may not even be able to recover your digital assets legally.įortunately, service providers and the law are evolving to help handle digital assets after death.

The terms-of-service agreements of online services may add even more restrictions on access. They may also be protected by laws surrounding data privacy and unauthorized access to computer systems. One major challenge your beneficiaries may face when dealing with your digital assets is that most accounts are protected by private passwords. It’s important to note that while your online financial accounts and platforms are considered digital assets, the funds in the accounts/platforms are not.

Text, graphic and audio files (or other intellectual property).

Smartphone, computer, tablet or cloud data.

Photo and video sharing and storage accounts.

Be thorough with your inventory and include as many assets as possible. Making a list of the digital accounts you own can help your loved ones protect your memories as well as your estate and identity.