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In today’s digital age, our online presence is as significant as our physical assets. From email accounts to social media profiles, cryptocurrency to online banking, and even digital photo collections, we live much of our lives online. Yet, many estate plans overlook these digital assets, leaving loved ones with uncertainty and legal hurdles. Additionally, California’s tech-savvy population often accumulates significant digital assets, making a Digital Estate Plan even more crucial for residents.

A Digital Estate Plan is essential to a comprehensive estate plan. It ensures that your digital life is properly managed and passed on according to your wishes.

What is a Digital Estate Plan?
A Digital Estate Plan outlines how your digital assets and online presence should be handled after death. It includes instructions for accessing, managing, and transferring your digital property and guidelines for closing or memorializing online accounts.

Digital assets can range from financial accounts like cryptocurrency wallets to personal ones like email, social media profiles, and cloud storage. Without a clear plan, these assets can be lost or inaccessible, causing unnecessary stress for your family.

Why a Digital Estate Plan is Important in California
California law recognizes the significance of digital assets in estate planning. The state adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which provides a legal framework for granting designated individuals access to digital assets. It is important to note that all estate planning documents prepared by Botti & Morison comply with the RUFADAA.

Key Components of a Digital Estate Plan
1. Inventory of Digital Assets
Start by creating a comprehensive list of your digital assets and make that list available to your successor trustee and agent under your Durable Power of Attorney for Finances. This person will serve as your “Digital Executor.” This list should include:

• Email accounts
• Social media profiles (e.g., Facebook, Instagram, LinkedIn)
• Online banking and investment accounts
• Cryptocurrency wallets and keys
• E-commerce accounts (e.g., Amazon, PayPal)
• Cloud storage (e.g., Google Drive, Dropbox)
• Subscription services (e.g., Netflix, Spotify)

2. Provide Access Information
Ensure your Digital Executor has access to your digital accounts by securely storing:

• Usernames and passwords
• Two-factor authentication details
• Encryption keys for sensitive accounts

Consider using a password manager or secure digital vault to store this information.

3. Specify Instructions for Each Asset
Decide what should happen to each type of asset:

• Should social media profiles be deleted or memorialized?
• Should digital photos and documents be shared with family members?
• Should cryptocurrency be transferred to specific beneficiaries?

4. Include Digital Assets in Your Will or Trust
Clearly outline your wishes regarding digital assets in your estate planning documents. Specify who has the right to access and manage these accounts and ensure this aligns with the terms of service for each platform.

5. Stay Up to Date
As technology evolves and you acquire new digital assets, update your Digital Estate Plan regularly to ensure it remains accurate and comprehensive.

Challenges Without a Digital Estate Plan
Failing to plan for digital assets can lead to:

• Lost sentimental items like photos and messages.
• Legal complications when heirs attempt to access accounts.
• Financial loss if valuable digital assets, like cryptocurrency, become inaccessible.
• Identity theft if accounts remain active and unsecured.

How We Can Help
At Botti & Morison, we understand that estate planning in the digital age requires a modern approach. Our team approach ensures that your digital assets are accounted for and seamlessly integrated into your overall plan. Whether you’re looking to protect cryptocurrency, preserve your digital legacy, or prevent complications for your heirs, we can help you create a customized Digital Estate Plan.

Contact us today to schedule a consultation and take control of your digital life as part of a comprehensive estate plan.

Thanks for reading,
Christopher E. Botti, Esq., Certified Specialist in Estate Planning, Trust and Probate Law

This blog is for informational purposes only and does not constitute legal advice. Every situation is unique, and you should consult with a qualified attorney for advice regarding your specific circumstances.