Do You Have a Digital Estate Plan for Your Online Assets?

[MULTIZ321]

Do You Have a Digital Estate Plan for Your Online Assets? - by David Geer/ Transfering Your Wealth/ Conversations/ Wells Fargo Magazines/ conversations.wfmagazines.com

"In this digital age, people amass an electronic wealth of sorts in social media sites, photo-sharing sites, and online accounts. But what happens to this digital presence when its owner passes away? Who becomes responsible for the disposition and transfer of these digital assets?

Proper digital estate planning, including record-keeping, securely sharing records with attorneys and trusted parties, and creating a plan for the social networks and websites that house digital accounts, should satisfy these concerns.

Estate planning for basic digital assets

Basic digital assets can include multimedia, copyrighted materials, and credits in customer reward programs. "Photos, videos, and blogs that are online, in the cloud, or on a personal hard drive or flash drive as well as e-books, movies, music, and frequent-flyer miles are good examples," says Michael Wernersback, Senior Regional Fiduciary Manager of Estate Settlement Services with Wells Fargo Private Bank. Digital assets may include social media accounts and content on sites like Twitter , Instagram , LinkedIn , and Facebook ..."


Richard

 

[WinniWoman]

No. And the whole thing gives me a headache.

 

[VegasBella]

This is a good idea.

A friend's mother passed away recently and her Facebook account remained active for a while. It was so disconcerting to watch her account keep popping up on my feed with new comments from people who hadn't realized she'd passed. It made me think of her digital stuff all over and wonder what was going to happen to it.

So much of my life is online. I really do need to put it all in order somehow so someone can handle things easily if I die.

 

[x3 skier]

Another reason I don't have a Facebook account

Kids have access already to my photo albums.

Another place to make sure you leave instructions is for any frequent flyer and hotel accounts. I've left all the info in my safe deposit box including passwords, numbers, etc. If there's any left, they inherit the miles and points.

Cheers

 

[rapmarks]

No. And the whole thing gives me a headache.

I agree..........................................................................................................

 

["Roger"]

No. And the whole thing gives me a headache.

+1

Another reason I don't have a Facebook account

+2

Plus, a few extra characters so the message is accepted.

 

[yoohoo]

I stored userids, passwords, and websites in a password protected file on a thumb drive. I have explained what I have done to each of my adult children and given each of them the password to the file.

 

[bogey21]

I shut down all the Social Media stuff a couple of years ago. Facebook was a pain. They fought me all the way but I finally got it shut down. Maybe it is easier today. I don't know. I have all my Pass Words, Account Numbers, etc. in my safe. My kids have the combination.

George

 

[Brett]

I don't care who inherits my facebook and flickr accounts
maybe I will donate them to charity