DIGITAL ESTATE PLANNING: DIGITAL ASSETS
When it comes to digital assets, there is a wide range of items to consider. The following list provides an overview of common types of digital assets and relevant terms to consider in the event of death. Here is a list of common digital assets categorized into different types:
Email accounts (Gmail, Outlook, Yahoo, etc.)
Social media accounts (Facebook, Instagram, Twitter, LinkedIn, etc.)
Messaging apps (WhatsApp, Telegram, WeChat, etc.)
Video streaming platforms (YouTube, Vimeo, Twitch, etc.)
Music streaming services (Spotify, Apple Music, SoundCloud, etc.)
Online shopping accounts (Amazon, eBay, Etsy, etc.)
Gaming accounts (Steam, Xbox Live, PlayStation Network, etc.)
Digital Files and Media
Photos and videos (stored on devices or cloud services)
Documents (Word files, PDFs, spreadsheets, etc.)
Digital art and designs
Music files and playlists
E-books and digital publications
Personal blogs and websites
Online Subscriptions and Memberships
Subscription services (Netflix, Hulu, Disney+, etc.)
Online newspapers and magazines
Membership websites and forums
Online courses and educational platforms
Software licenses and subscriptions
Financial and Cryptocurrency Assets
Online banking and investment accounts
Stocks and Forex Accounts
Cryptocurrency wallets (Bitcoin, Ethereum, etc.)
Digital payment accounts (PayPal, Venmo, etc.)
Online financial management platforms
Copyrighted works (books, articles, music, etc.)
Trademarks and patents
Digital creations (artwork, photography, writing, etc.)
Domain names and websites
Cloud Storage and Backup
Cloud storage services (Google Drive, Dropbox, iCloud, etc.)
Online backup services
It's important to note that this list is not exhaustive, and digital assets can vary depending on individual preferences and online activities. It's crucial to identify and categorize your specific digital assets to effectively manage them in the event of your passing.
Terms to Consider in the Event of Death:
1. Digital Executor: A designated person responsible for managing your digital assets after death.
2. Digital Estate Plan: A documented plan outlining your wishes and instructions for the management and transfer of your digital assets.
3. Inventory: A comprehensive list of your digital assets, including account information, login credentials, and access instructions.
4. Account Closure: Instructions for closing or terminating specific online accounts.
5. Account Memorialization: Guidelines for transforming social media accounts into memorial profiles or handling other memorialization options offered by platforms.
6. Data Preservation: Preferences for preserving and protecting specific digital files or online content.
7. Data Deletion: Instructions for deleting or permanently removing certain digital assets or online accounts.
8. Beneficiary Designation: Designating specific individuals or organizations as beneficiaries of your digital assets.
9. Legal Considerations: Consultation with an estate planning attorney specializing in digital assets to ensure compliance with relevant laws and regulations.
10. Privacy and Security Measures: Instructions for protecting sensitive information and ensuring the security of your digital assets.
It is important to consult with legal and estate planning professionals to understand the specific laws and regulations in your jurisdiction and tailor your digital estate plan to meet your unique needs and circumstances.