Modern Estate Planning, Get Your Digital Assets in Order

As our world becomes increasingly digitized, technology becomes more and more integral to our lives. From cherished memories stored in digital photo albums to valuable assets held in online accounts, our digital footprint has become an integral part of our legacy. When creating an estate plan, many overlook the management and distribution of digital assets despite the rise of digital technology.

The term "digital assets" includes any device used to access the internet or store digital data. It also includes anything bought, traded, or sold online, as well as personal accounts like emails, social media, and online accounts. Having a username and password for an account makes it a digital asset.

Password protection and terms-of-service agreements can make it difficult for loved ones to access your accounts. They may also be protected by laws surrounding data privacy and unauthorized access to computer systems. The terms-of-service agreements of online services may add even more restrictions regarding access. If you don’t leave specific instructions regarding who can access these assets (and how), no one may be able to recover your digital assets legally. Service providers and the law are evolving to help handle digital assets after death. Many states, including Kansas, have adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which lays out three tiers for accessing digital assets.

• Tier 1. If a digital service provides a tool to designate what happens to assets after you die, this designation guides what happens to the account.
• Tier 2. If there isn’t any tool, then the owner’s directions in a will or legal document determine the handling of the account or asset.
• Tier 3. If neither of the first two scenarios is present, the terms-of-service agreement dictates how those accounts can be accessed. Those agreements often restrict access to the original owner.

In managing your digital estate, you follow the same procedures as you do with your other affairs. Making a list of your online accounts will help your loved ones protect your memories, assets, and identity. The following are things you should consider when inventorying your digital assets:

• Personal devices and computers, both personal and work equipment. This may include cellular phones, tablets, computers, and external hard drives.
• Password manager.
• E-mail. List of personal and work accounts.
• Financials. List all your digital accounts including banking, investing, credit cards, budget services (Ex: Mint.com), retirement, life insurance, and tax preparation. Also, include cryptocurrency keys if applicable.
• Utility and property services.
• Social Media. List all accounts such as Facebook, LinkedIn, Twitter, and Instagram.
• Online Storage. List all cloud-based accounts such as Apple iCloud, Google Drive, and Dropbox.
• Online shopping, subscriptions, rewards, and services. List all accounts and apps such as Amazon, HelloFresh, Etsy, and Uber.
• Entertainment and media. List all accounts and apps such as Apple iTunes, Hulu, Netflix, and YouTube.
• Security Systems. List properties for which you have security systems or codes, such as your primary home, vacation home(s), and business(es).
• Intellectual property and/or other specialty digital assets. List all patents, trademarks, copyrights, videos, photographs, images, or presentations.
• Domain names, websites, and blogs.
• Other online accounts and apps. List any accounts not covered above, including P2P payment services such as PayPal and Venmo.

Having taken an inventory of your digital assets and accounts, list your intentions for each. Who will be responsible for managing specific accounts, devices, and logins? Are your social media accounts to be deleted immediately, or should their contents be archived?

Formalizing your digital estate plan requires updating your wills and trusts as well as naming a digital executor. As with a traditional executor, a digital executor is responsible for managing your digital assets. Choose someone who is technologically proficient and able to execute your wishes in compliance with applicable laws.

Effective estate planning involves communicating with those who need to know. The executor and you can test out your estate plan by looking at where information is stored, logging in to accounts, and reviewing the instructions to discover any problems or gaps.
Prepare your digital estate plan to ensure your digital legacy is managed according to your wishes, to ensure your family can access your digital assets, and to prevent any financial or sentimental losses.

Additional Resource: Digital Estate Planning Publication MF3591 MF3591 Digital Estate Planning (ksu.edu)

by Joy Miller, Family and Community Wellness Extension Agent
April 2025