In today’s world, your estate isn’t just the family heirlooms, bank accounts, or real estate you plan to leave behind. Increasingly, your digital assets are an important part of your legacy. Photos, videos, cryptocurrency, and even social media accounts can carry real-world value and, in some cases, generate income.
It’s completely normal if you didn’t think about these items when you first created your will or trust, most people don’t. The good news? It’s easy to take action now and make sure your digital legacy is protected.
What Counts as a Digital Asset?
Digital assets can include:
- Digital photos and videos on your phone, cloud, or external hard drive
- Emails, financial files, and business records
- Cryptocurrency and NFTs
- Domain names (URLs)
- Social media accounts (Facebook, LinkedIn, X, TikTok, Instagram, Twitch)
- Content creation accounts like YouTube
- Affiliate marketing accounts (Amazon, Google, ClickBank)
- E-commerce accounts (Etsy, Shopify)
- Device backups
- Databases, such as medical records or cloud storage
Many of these assets aren’t just sentimental, they can also have substantial financial value, particularly cryptocurrency, monetized social media channels, or digital businesses.
That’s why protecting your digital assets is now a critical part of your estate plan, alongside traditional assets.
3 Tips to Manage Your Digital Legacy
1) Take Inventory
Start by making a list of every online account, platform, or digital file you use. If you run a business, include client files, spreadsheets, and databases (keep in mind confidentiality).
This inventory isn’t just useful for your estate plan, it’s essential for anyone who may need to step in on your behalf, like your agent under a financial power of attorney, executor, or successor trustee. Having this list ensures your digital assets are organized, accessible, and managed according to your wishes.
2) Choose a Digital Fiduciary (or Cyber Successor)
A digital fiduciary is someone you trust to manage your online accounts if you become incapacitated or after your death. Often, this person is already serving in a fiduciary role, like a trustee, executor, or agent under a power of attorney.
Accessing digital accounts is governed by both state law (such as the Revised Uniform Fiduciary Access to Digital Assets Act, RUFADAA) and each platform’s terms of service. Tools like Google Inactive Account Manager or Apple Digital Legacy can help your fiduciary access your accounts legally and efficiently.
3) Use the Right Tools to Protect and Pass On Your Assets
Depending on your situation, you may want to fund digital assets into a trust, include access instructions in your power of attorney, or take other steps to ensure your digital legacy is secure.
At Bloom Legal Advisors, we help Kansas and Missouri families:
- Identify and organize digital assets
- Select trusted decision-makers and beneficiaries
- Ensure the proper legal tools are in place to protect these assets
- Update your planning as laws and platforms evolve
Why You Can’t Ignore Digital Assets
Doing nothing could result in:
- Losing cherished digital family photos or videos
- Disrupting your business if you become incapacitated
- Preventing your digital assets from passing to the people you love
If the idea of planning for your digital legacy feels overwhelming, don’t worry, we can help. Bloom Legal Advisors will guide you through identifying, protecting, and transferring your digital assets so your legacy is preserved and your family is supported.
