Addressing Digital Assets and Online Accounts in Probate

In our increasingly digital world, it’s no surprise that our online lives—filled with social media accounts, digital photos, cryptocurrencies, and other digital assets—have become an essential part of our estates. However, when it comes to probate, many people overlook these digital possessions. At ProSe Legal Service, we believe it’s crucial to address how digital assets and online accounts should be managed during this process. Let’s dive into the often-overlooked but vital topic of handling digital estates in probate.

Understanding Digital Assets

Before we delve into probate specifics, let’s clarify what we mean by digital assets. These include any digital item of value or significance, such as:

• Social media accounts (Facebook, Twitter, Instagram)
• Email accounts (Gmail, Yahoo, Outlook)
• Digital photos and videos stored on cloud services (Google Photos, iCloud)
• Online banking and financial accounts
• Cryptocurrencies (Bitcoin, Ethereum)
• Online businesses and digital intellectual property
• Digital subscriptions (Netflix, Spotify, Amazon)

The list is extensive, but identifying these assets is the first critical step in managing them effectively during probate. Review Fidelity.com for a more comprehensive list of digital assets.

Challenges in Managing Digital Assets

One of the primary challenges in handling digital assets during probate is accessing them. Unlike physical assets, which are often more straightforward to locate and transfer, digital assets are protected by passwords, two-factor authentication, and varying privacy policies dictated by service providers.

Furthermore, legal rights pertaining to digital assets can vary. Some online accounts are bound by terms of service agreements that may not allow for easy transfer or access by heirs. This variance can make the probate process more complex.

Steps to Address Digital Assets in Probate

1. Create an Inventory of Digital Assets: Start by making a comprehensive list of all digital accounts and assets. Note down usernames, passwords, security questions, and other access details. However, storing this information securely is paramount to prevent unauthorized access.
2. Appoint a Digital Executor: Just as you would appoint an executor for your physical estate, consider appointing someone specifically to handle your digital assets. This person should be tech-savvy and trusted to manage your online accounts according to your wishes.
3. Include Digital Assets in Your Will: Clearly state how you want your digital assets to be handled in your will. Include details on who should receive which assets and any specific instructions for account cancellations or transfers.
4. Check Service Provider Policies: Different service providers have varying policies regarding account access and transfer upon death. Familiarize yourself with these policies to ensure your wishes align with what’s permissible.
5. Utilize Digital Legacy Tools: Some platforms offer legacy tools. For example, Facebook allows you to appoint a legacy contact to manage your profile after death. Google’s Inactive Account Manager lets you decide what happens to your account if it becomes inactive.
6. Secure and Update Regularly: Ensure that your inventory of digital assets and any related documents are stored securely. Consider updating your list regularly to account for new assets or changes to existing ones.

Frequently Asked Questions

How to Get Started on Your Legal Documents

If you are ready to start your legal document matters in California or Nevada, our Legal Document Preparers in Nevada and Legal Document Assistants in California are ready to help. Here is how you can get started today:      

1. Step 1: Fill Out Our Contact Form: Start by visiting our website and navigating to the contact page. There, you will find a contact form that collects essential information about you and your legal document needs. Provide detailed information about the specific legal assistance you are seeking, ensuring that you include accurate contact details.    
2. Step 2: Make an Appointment: Once we receive your contact form, our team will promptly review your request. We will then reach out to you to schedule an appointment. This appointment can be in-person, over the phone, or through a virtual meeting, depending on your preferences and availability. Be prepared to suggest a few suitable time slots for the meeting.    
3. Step 3: Meet with One of Our LDAs or LDPs: Attend the scheduled meeting with one of our experienced Legal Document Assistants (LDAs) or Legal Document Preparers (LDPs). This meeting is an opportunity for you to discuss your legal document matters in more detail. Bring any relevant documents or information that may assist in understanding your specific needs. 
4. Step 4: Discuss the Filing Process: During the meeting, our LDA or LDP will guide you through the filing process. They will explain the required documentation, necessary steps, and any legal requirements relevant to your legal document matters. Feel free to ask questions and seek clarification on any aspects of the filing process that may be unclear.    
5. Step 5: Discuss the Next Steps: Towards the end of the meeting, discuss the next steps in the process. This includes timelines, any additional information or documentation needed from your end, and a clear outline of the follow-up procedures. Ensure that you have a comprehensive understanding of the upcoming steps and are comfortable with the proposed course of action.     

The Importance of Planning Ahead

Planning for the management of digital assets in probate is essential not only to ensure your wishes are honored but also to provide a smoother process for your heirs. Without proper planning, your loved ones might struggle to access important information or face legal obstacles in managing your digital estate.

Remember, the digital world is constantly evolving, and so should your estate planning. Don’t leave your digital assets out of the conversation—start planning today.