Help Your Heirs or Estate Representative – Digital Accounts
Help Your Heirs or Estate Representative
Digital Accounts
All of us rely on digital devices and online account access, such as sharing family photos, social media, email, cell phone and computer, banking, bill pay, bitcoin, etc. Now imagine what will happen after you’re gone. Will your loved ones be able to access your accounts to pay bills or monitor your social networks? Most internet users have 20 – 90 accounts requiring access account name and passwords, and that number grows each year. Please take the time to list your digital estate and put it with your will, trust, powers of attorney and other important documents that will be accessible if you pass away.
Probate courts have established procedures to distribute physical items, but some states do not yet have laws governing the management and inheritance of online property. Unless you make specific plans, your digital assets stand a good chance of disappearing entirely. More importantly, creating a record can help loved ones settle your estate after you’re gone. Get started documenting your digital accounts using the list on the next page. And, while recording your passwords, please take the time to review them to ensure they are unique and cannot be easily hacked.
Four Protection Tips:
- Consider storing your passwords using an online management program that can encrypt and store this information securely. Keeping the passwords on a USB stick in a locked location could prevent an online hacker from accessing this important information directly from your computer or phone.
- Choose a safe place to store this information. Because your will could become public record when filed, you should not include the list of your digital accounts in the body of your will. Instead, store your worksheet with your will in a safe, easily accessible location such as a fireproof safe. And, make sure your executor has access or share the location of this list with a trusted loved one.
- You can make a plan for your digital “assets” as each may need to be handled differently. For your heir or estate representative create a guide outlining what happens with each one.
- Consult with your estate planning attorney. State laws differ in this area. Your attorney will draft an estate plan that addresses your digital assets.
For more information feel free to contact Dawn: dcoulson@eppscoulson.com.
EPPS & COULSON, LLP
Attorneys admitted to practice in
California, New York, Colorado, Texas, Oregon and Hawaii
Information contained in this Memo is intended for informational and educational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney. While intended as information and educational, it is considered advertising under applicable laws of some states, and as such, Epps & Coulson, LLP encourages you to call us to discuss these matters as they apply to you or your business.
Use this worksheet to organize your online accounts, security questions and passwords. Make a copy of this worksheet to record more account information or contact us for additional copies.
________________________________________ _______________________________________
Cell Phone: Number Password
________________________________________ _______________________________________
Computer: Login Password
________________________________________ _______________________________________
Email Accounts: Login Password
________________________________________ _______________________________________
Email Accounts: Login (continued) Password
________________________________________ _______________________________________
Social Media Accounts: Login Password
________________________________________ _______________________________________
Social Media Accounts: Login (continued) Password
________________________________________ _______________________________________
Credit Card Accounts: Login Password
________________________________________ _______________________________________
Credit Card Accounts: Login (Continued) Password
________________________________________ _______________________________________
Online Utility Accounts: Login Password
________________________________________ _______________________________________
Online Banking Accounts: Login Password
________________________________________ _______________________________________
Entertainment Accounts: Login Password
________________________________________ _______________________________________
Other Product/Service Account Name: Login Password
________________________________________ _______________________________________
Other Product/Service Account Name: Login Password
________________________________________ _______________________________________
Other Product/Service Account Name: Login Password