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:

Online Accounts

• 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

Intellectual Property

• 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

• File-sharing platforms

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.