Creating a digital legacy plan is essential in today’s digital world. A digital legacy plan outlines who will manage your online presence after you have passed away. Here is a comprehensive, step-by-step guide detailing what you need to do to map out an effective digital legacy plan.
- Establish Your Digital Assets
The first step to create a digital legacy plan is establishing your digital assets. Digital assets include anything you own or control that is accessed through the internet or other digital technology. This includes social network accounts, email accounts, websites, blogs, e-commerce accounts, cloud-storage accounts, digital photos, videos, music, documents, cryptocurrencies, and more. Make a comprehensive list of your digital assets and update it regularly.
- Review Terms and Conditions
Next, review the terms and conditions and the privacy policies of each digital platform or account you possess. These policies will give you a sense of what happens to your account when you die and what your legal rights are. For instance, some online platforms shut down the user account upon the user’s death, while others may pass control of the account to a designated person.
- Nominate A Digital Executor
After taking stock of your digital assets, decide who you want to be your digital executor. This will be the person who will manage your digital assets after you’re gone. Choose someone trustworthy and tech-savvy enough to handle digital properties. In some cases, you may want to opt for a digital legacy service, especially when there are complicated assets like digital cryptocurrencies.
- Create An Inventory Of Your Digital Assets
Maintain an inventory of your digital assets along with their corresponding login credentials. You can use a digital asset inventory tool for this purpose. Such tools allow you to store digital assets, login credentials, and your specifications about what happens to each item after your demise. Make sure your digital executor or a trusted family member knows the means to access this safe.
- Include Digital Assets In Your Will
Although laws vary by jurisdiction, it’s best to include your digital assets in your will, but avoid listing passwords. Mentioning your digital assets in your will makes it legally possible for your executor to gain access to them and manage them according to your wishes.
- Specify How You Want Each Asset Handled
Consider how you would like each digital asset to be managed. Should they be deleted immediately, or should they be preserved as a sort of digital monument? Should your social media profiles be converted into memorial accounts, or should they be taken down? Be as specific as you can for each digital asset, as it will significantly ease out the work for the digital executor.
- Plan For Your Email Accounts
Email accounts may contain many precious memories, important legal documents, and billing notifications. Therefore, it’s vital to decide who gets access to your email accounts and how they should be managed. You can specify, for example, that your executor archive all your emails offline and then shut down the account.
- Indicate How To Handle Your Financial Accounts
Digital assets also include online banking, retirement accounts, and investment accounts. It’s crucial to provide the executor with necessary information about these accounts. Your executor should also be informed of any automatic payments that should be discontinued upon your passing.
- Guidance On Digital Business Assets
If you have digital business assets, such as eCommerce stores, digital products, or you’re a part of an online business, it’s crucial to have a succession plan. Detail who takes over and make sure they have the necessary information and skills.
- Update Your Digital Legacy Plan Regularly
As our digital presence continues to grow, it is of utmost importance that you update your digital legacy plan regularly. An outdated plan can create as much chaos as not having a plan at all. Regularly updating your inventory of digital assets and their login credentials and reviewing your plan will ensure your digital legacy is well-maintained.
Preparing a digital legacy plan protects your digital assets and ensures they are managed according to your wishes. By mapping out such a plan, you’re not only preserving your online presence for generations to come but also making the process simpler and smoother for your loved ones. Following this in-depth, step-by-step guide will surely aid in creating an efficient digital legacy plan.
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