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DIGITAL ESTATE PLANNING
Some may think that there is no reason for Digital Estate Planning, but social media and technology is growing more and more every day. If you are working on getting your physical assets in order, why not make sure your digital assets are safe as well?
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WHY YOU SHOULD CARE ABOUT DIGITAL ESTATE PLANNING
What will happen to your social media accounts (e.g. Facebook, Twitter, Instagram) page when you're gone? How about the personal emails you've sent and received? Online photo albums? The files on your laptop? Your PayPal or Venmo accounts? How would your Executor know where you have accounts or how to access them to manage your Estate? Nowadays, our 'real' and digital experiences are so intertwined that it's important to plan for what happens to your online "paper trail."
Making an inventory of and creating your digital estate plan (think of it as a will for your digital assets) will relieve your family members and loved ones from the added stress that arises after a death. When your family can rely on a written plan that outlines the passwords for your digital assets as well as how those assets should be managed, they won’t have to worry about navigating a more extensive probate court process.
WHAT ARE DIGITAL ASSETS?
A digital asset can be a wide variety of electronic records and files that are stored online, on mobile devices, or on personal computers. Simply put, almost anything you keep a digital record of is considered a digital asset and something that should be noted in your digital Estate Plan.
A digital asset can include any of the following:
Social media accounts
Online bank, credit card, brokerage, retirement plan, credit, loan, insurance and other accounts you access to manage your money and pay your bills
Online retailer accounts
Online subscription-based accounts
Ecommerce or marketplace accounts (i.e. Amazon, eBay, iTunes, etc.)
Photos and video sharing sites like YouTube or photos saved on the cloud
Cell phone apps
Online dating or gaming accounts
Online accounts for utilities
Loyalty program benefits (i.e. frequent flyer miles, credit card perks, etc.)
Any other personal information you store on your computer, cell phone, or tablet
CONSIDER APPOINTING A DIGITAL EXECUTOR
If you have a Will, you’ve named an executor to follow the instructions in your Will about how you want your assets to be managed and distributed after you pass away. A digital executor is someone who can carry out your digital asset plan after you pass away. Your digital executor not only needs to be trustworthy, but also tech-savvy enough to be able to follow through with your instructions, so choose wisely.
Think About Instructions for Your Digital Assets
Your Will probably lays out the distribution of your financial assets, but what do you want to happen to your Facebook, Twitter, or Instagram profiles? Consider leaving a letter of instruction or a “to-do” list to let your digital executor know, among other things, what they should do with your accounts. Include information such as:
Should your digital executor deactivate your Facebook and other social media accounts when you die, or do you want them to set it up as a memorial page?
Should your executor to send digital photos you’ve saved in the cloud or sharing site to family members?
Do you want to give someone control of any unused iTunes credits you have?
Do you want any personal videos uploaded to YouTube for friends and family to see (or taken off of YouTube so they don’t see them)?
Do you want your personal emails deleted or retained and given to someone?
THINKING ABOUT YOUR DIGITAL ASSETS AND LEGACY? HERE'S WHY YOU SHOULD.
A LIFE PLAN FROM FINAL SECURITY CONNECTS YOU TO:
Final Security's Info Vault is a place where you can store your digital information for your designated beneficiary:
Store your usernames and passwords to any service (files and notes can be saved with each entry.)
Store your photos: save a single, memorable photo or a collection to pass on.
Store your documents, such as a will, or a collection of information your beneficiaries will need.
Create an efficient, organized and central place for your beneficiary to find all your important information after your passing.
Social & Cloud Clean
Social & Cloud Clean is Final Security's service that allows you to know that your online accounts and subscriptions do not live on the web forever. Not only does this service protect your legacy and information, it also protects family and friends. Bad actors are looking to capitalize on the window of time where your death may not be publicly known or officially recognized. In this window of time, your family and friends could fall victim to a scam that looks like it is coming from your account.
With Final Security's Device Cleaning service, you can have peace of mind knowing that your registered devices will be remotely wiped upon the confirmation of your passing. Our service will ensure that the sensitive and private information will be erased, only transferring what you've selected to be seen by your designated beneficiary. We will protect not only your legacy, but provide protection to loved ones by making sure your private information does not get into the wrong hands.
My Final Goodbye
My Final Goodbye, a service that allows you to create a video message or a text-only email that will be sent after you're gone. Tell that special story, give that final life lesson or simply say your final "I love you.” This will be a message that your loved ones will cherish forever.
HOW TO SIGN UP:
Fiffik Law Group, a certified Final Security Digital Estate Planning Agency, offers a 10% discount on Final Security's Life Plan, bringing the one-time payment to $359.
To sign-up and receive your discount:
Create an account
Select Life Plan
Enter the promotional/agent code for Fiffik Law Group agent-fiffik-pgh
DIGITAL ESTATE PLANNING RESOURCES
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