“Are social media accounts part of my estate?” is a burning question that is bothering most of us. Today, Social Media Accounts and other digital accounts have become a large part of our lives. Earlier planning your “Will” and creating Estate Plans did not require considering social media accounts as its part. However, now, social media accounts are part of our digital assets. And these digital assets are part of our estate.
It’s important to decide what happens to your social media accounts after your death and make an estate plan accordingly. It helps in managing your online accounts even after your demise. To help you learn more about it, let’s discuss why social media accounts should be part of your estate plan?
Why Are Social Media Accounts Part Of Your Estate Plan?
Social Media Accounts are part of your Digital Assets, making them part of your Estate Plan. However, most people forget to include their Digital Assets in their Estate Plans. Thus their social media accounts are left out while estate planning.
If you forget to add your Social Media Accounts to your Estate Plan, it can cause significant problems for your loved ones and your executor after your demise. Because they won’t be able to access your online accounts.
You might have heard stories about loved ones having issues while trying to access online accounts. Companies usually don’t grant access to a user’s account just because they passed away. It’s because of legal reasons surrounding the user agreements.
For instance, if a family reaches out to Facebook for gaining access to a deceased person’s account, they probably won’t get access unless they have the username and password associated with the account.
The reason why it’s important to include social media accounts in your estate plan is to make sure that the executor of the Will handles those accounts according to your wish after your death. Additionally, it ensures your family members have access to your social media accounts even after your death.
How Do I Include Social Media Accounts In My Estate Plan?
To make social media part of your estate you can start by creating a list. Include usernames and passwords of your various online accounts in it. But do not include that list in your Will directly. Instead, include instructions for where to find that list in your Estate Plan.
Now you must be thinking, why not include the list directly? Well! Simply because the Will becomes a public record after you die, and you wouldn’t want everyone accessing your online accounts.
Your Estate Plan or The Will is the best place to express your final wishes, including wishes regarding digital assets and social media accounts. For instance, you can leave instructions for your executor or family members if you want them to close or memorialize your account.
Additionally, if you don’t want your family to access your private emails, you can state that too in your Will. But remember to provide the executor the power to access, transfer, or close your social media and other online accounts.