When you think about what to leave your family, jewelry and real estate may come to mind first. But think about your e-wallet accounts, your monetized social media pages or your e-commerce website. These are also real assets with real value. Without a plan, these accounts can lock your family out with no way to get in.
Can you add digital assets to your estate plan?
Fortunately, Kentucky law gives you clear options to protect them. In fact, state law gives your executor, trustee or power of attorney the legal right to manage your digital accounts after you pass.
However, you must properly authorize them first. Without that step, your loved ones may run into strict privacy policies that block their access. This is why a well-prepared estate plan removes those barriers for your family.
Six digital assets worth adding to your plan
Now that you know your estate plan can cover digital assets, the next step is identifying what you own. Here are six common digital assets to include in your plan:
- Digital financial assets: E-wallets, digital bank accounts and digital currencies all hold real monetary value that your family should be able to access.
- Monetized online accounts: Blogs, vlogs or social media pages that earn advertising revenue can continue generating income for your loved ones.
- Domain names and websites: Owned domains and their content are transferable assets that hold both financial and sentimental value.
- Loyalty programs: Your family can inherit and use airline miles, hotel points and credit card rewards you have accumulated.
- Cloud storage: Photos, videos and documents stored on the cloud or online digital drives preserve memories your family will want to keep.
- Business accounts: You can hand off e-commerce stores, software subscriptions and digital marketing tools to keep a business running.
Once you know what digital assets you have, the next thing to consider is how to keep your accounts safe and secure in your plan.
One simple rule to keep your accounts secure
As you build your plan, never include passwords or login credentials in your will. Wills pass through probate, which makes them public documents. Instead, store your credentials in a password manager or write them down and secure them in a location only your estate administrator can reach.
Safeguard your digital legacy today
Your digital life represents years of hard work, meaningful memories and real value. Including digital assets in your estate plan is one of the most thoughtful things you can do for your family’s future.
With the right plan in place, your loved ones will have the access and peace of mind they need when it matters most. Getting started is simpler than you might think and every step you take today brings your family closer to full protection.