Digital assets have become a significant component of modern-day estate planning due to the increasing number of financial, personal, and intellectual activities taking place online.
These include online banking accounts, cryptocurrency, cloud-stored photos, and social media profiles, among others. To ensure that these digital assets are protected and properly managed after an individual's passing, a comprehensive plan must be put in place.
Four key steps have been identified to help incorporate digital assets into estate planning: identifying digital assets, determining ownership, establishing access protocols, and updating beneficiary designations. By following these steps, individuals can ensure that their digital legacy is managed according to their wishes.