If you have any sort of digital assets, then you might’ve wondered what happens to them once you pass away. (Something as simple as the images or videos that you’ve stored digitally counts as a digital asset). By making use of a Digital Estate Plan, you can decide what happens to your digital assets following your death or incapacitation. To do that, you need the help of someone else. This person is called the ‘executor’ of your digital will.
As the executor is the person who will carry out your digital will, it is important that you choose the right person for the job. These are some factors to consider when appointing an executor for your digital assets.
1. Your Relationship With The Executor
This one seems like an obvious choice, but it is also the most important one. Your executor should be someone you can trust with your digital assets following your death. Choosing a loved one who can handle the responsibilities is often the best choice for an executor.
2. The Executor’s Situation
While it is easy to get caught up in our own affairs while making a digital will, something that should be considered is the executor’s personal situation. Will they be capable of carrying out these duties following your death? Is there a chance that they might die before you? These are some questions that should be considered when you’re choosing an executor.
3. Naming More Than One Executor
Most places allow you to appoint more than one executor. This ensures that the other can carry out the duties in case one of them is absent. Not only that, appointing more than one executor means their workload can be reduced. However, too many executors can lead to complications depending on their interpersonal relationships.
4. The Executors’ Relationship With Others
Similar to considering the executor’s personal situation, you should also consider the relationship your executors share not only amongst themselves but also with your beneficiaries. If any tensions exist between the executors or between the executors and your beneficiaries, there are chances of disputes arising.
In such cases, it is best to appoint an impartial and independent third party as the executor.
5. The Nature Of Your Digital Assets
If your digital assets contain confidential or maybe complex information, it might seem hard to appoint someone you personally know as the executor. They may not be well-equipped to deal with such complex matters, or you could simply not wish for them to know of the contents of your digital assets. Seeking the help of a professional executor is recommended in such cases.
6. A Backup Executor
Life can be unpredictable. So it’s always good to have a plan-B. In the rare case that the executors you appointed might not be available due to some reason, (such as dying before you or with you) your backup executor will be charged with carrying out your will. Even though the need for a backup is unlikely, you should choose one while taking the above-mentioned factors into consideration.
Nothing is set in stone. Circumstances may change throughout your life and you may want to make the necessary changes to your will accordingly. It is recommended that you review the conditions of your will periodically.
While the factors mentioned above can help you in choosing an appropriate executor, things may change over time. As such, you are always free to change the terms (this includes the executor) of your digital will accordingly.
Now that you’ve learned about the factors to consider when appointing an Executor for your Digital Will, create an Online Will or Digital Estate Plan to safeguard your Digital Assets.
Sign up with Clocr to get started with creating your Digital Will.
