In today’s digital world, estate planning goes beyond just drafting a will. While you might focus on traditional documents like a will when meeting with your estate planning attorney, it’s equally crucial to ensure that your digital accounts are properly managed after you’re gone. Sharing your digital account information with your executor is an important part of this process.

Sharing Digital Account Information with Your Executor

One of the key elements of modern estate planning is providing your executor with access to your digital accounts. Without access to passwords, your loved ones and executor may find themselves locked out of critical accounts if something unexpected happens to you. It’s essential to avoid leaving them in the dark.

What Accounts Should You Share?

Here are some examples of the digital accounts you should consider sharing with your executor:

• Email, social media, and streaming services accounts
• Financial accounts like checking, savings, credit cards, and brokerage accounts
• Cloud-stored photos and videos
• Cryptocurrencies and other digital assets
• Websites or domain names you own
• Online gaming accounts
• Devices such as phones, tablets, laptops, and e-readers
• Rewards accounts like credit card points or airline miles

Using a Password Manager

Password managers like LastPass or 1Password can help you securely store and share all of your account information. These tools allow you to create a master password to access all your login details. This way, you only need to remember one password, while the manager securely stores the rest, including banking, credit card, and digital account information. Many password managers also offer secure sharing options and have family or business plans.

Remember to include clear instructions in your will about how you want your digital accounts to be handled after your passing. Your executor can then close accounts, manage debts, or even shut down your social media presence as needed. Be sure to specify if you’d like them to reset or recover passwords. If you prefer not to give access to certain accounts, your will should reflect that, but avoid listing specific passwords in the will itself, as it is a public document.

Giving Providers Permission to Disclose Information

Some service providers require paperwork to grant your executor permission to access your account information. Due to data privacy laws, they cannot share your account details without your consent. Be sure to complete any necessary forms that allow your executor to manage your accounts on your behalf.

Additionally, several popular service providers offer tools to help with account management after death. For example, Facebook provides a Legacy Contact feature, Google has its Inactive Account Manager, and Apple offers Digital Legacy options. These tools allow you to designate a trusted individual to manage your accounts and close them after your death.

Conclusion

Incorporating your digital assets into your estate plan is crucial to ensuring your affairs are properly handled when the time comes. By securely sharing your account information, using password managers, and providing clear instructions for your executor, you can make the process easier for your loved ones and ensure your digital legacy is preserved.