Many people don’t realize the extent of their electronic and digital lives and the potential problems they’re leaving for others to deal with. Estate planning law has recently caught up to developments in technology. an executor to manage computer files, web domains, and virtual currencies unless the will or other document specifically prohibits the access. All the executor has to do is provide proof that he or she is authorized to act as executor. But the law does NOT allow the executor to access email, text messages, social media accounts, and other digital assets without express permission in a will, trust, power of attorney, or other legal document or court order. So what should you do if you don’t want your heirs to have to engage in legal battles for the right to access your various electronic assets or hire technology experts to crack them?
1. Be clear in your will, trust, and power of attorney who can have access to and management ability over each of the digital assets and accounts. Some people divide access to the accounts. They might only want a surviving spouse, other family member, or friend to have full access to email, social media, a cell phone, and perhaps other assets. That person can forward any relevant information to the executor.
2. The executor is given full electronic access to financial accounts and other assets and accounts needed to settle the estate.
3. Create a comprehensive inventory of your digital life. Many people are surprised by the extent of this inventory. A digital asset is any online account or service that is protected by log-in security. Be sure you have a list of logins and passwords attached to your will in a secure place that your executor has access to and keep it up to date. On this list should be the name and web address of each account, account number, full name that is on the account, user name and password. If two-factor authentication is used, explain where the authentication is sent. Many digital accounts also have you answer security questions. Include these in the inventory. Add any other helpful information or comments to the inventory.
4. Start with your Smart Phone. This is important, because the best security policy now is to require two-factor authorization for online accounts. That means after entering the password, you have to enter a code that usually is sent in a text message to a cell phone. Most of your digital life won’t be accessible without access to your phone.
5. Examples of accounts on the list for you to identify:
- Email, social media, message board accounts, and subscriptions.
- Your computer, computer files, files you store on “cloud accounts,” and any web domains you own also are digital assets.
- Online financial accounts of course are digital assets – your bank, brokerage or custodian, your mutual fund company, crypto currency account.
- Smart phone, tablet, and digital watch and all the apps and other items on it are digital assets.
- Medical records are being digitized and accessible online, making them part of your digital estate.
- Automatic payments are an often-forgotten item. Make a list of all automatic payments, whether they are deducted from a financial account, charged to a payment card, or paid through some other means. Remember that some payments are annual, so your list might not be complete after reviewing only one month’s automatic payments.
6. You can add a Legacy Contact to your Apple devices:
How to add a Legacy Contact for your Apple ID
- Go to Settings, then tap your name.
- Tap Password & Security, then tap Legacy Contact.
- Tap Add Legacy Contact. You might be asked to authenticate with Face ID, Touch ID, or your device passcode.
- The next step is to go to Apple’s Digital Legacy access page. You’re going to get an “access key” for that person that includes a QR code and a string of text that you can print or send to them via an encrypted Messages text. Only people who also use Apple devices will be able to use the digital version of the key; you’ll have to print it out for anyone else. They’ll need this key and a copy of your death certificate to access your data.
How to add legacy contacts to Android
- Scroll down and tap Settings
- Tap Personal Information
- Tap Manage Account then tap Legacy Contact
- Tap Choose Legacy Contact
- Follow the on-screen instructions.
Yes, this will ask for some effort. But remember that, if you arrange this well, your beneficiaries will be so thankful.
Anja & Clare
