In today’s digital and “paperless” age, it is hard staying on top of all our online accounts. However, it is important to keep record of “digital assets” as a part of your estate planning. On WUSA 9, SmolenPlevy Principal Jason Smolen joins anchor Mike Hydeck to discuss tips for safeguarding the location and access information of your online accounts and social media.
Smolen suggests making a list documenting the login information for every online account you have and ensuring that there is a current paper copy of that list. After death, that paper list will inform your loved ones of what accounts exist. However, having the login information and passwords may not entitle beneficiaries to use your online accounts on behalf of your estate. Many service agreements and some federal laws prohibit others from using your accounts in your absence.
Preparing a list of online accounts is an important first step in protecting access to your digital assets. Smolen further suggests providing instructions on what to do with each account in the event of death.
Watch Smolen on WUSA 9 above.