Creating an Estate Plan for your Digital Assets makes sure your next-of-kin have access to your online accounts after your death.
Creating an Estate Plan for your Digital Assets helps in securing your Digital Estate and Legacy. To make a perfect Estate Plan, you first need to locate your Digital Assets, leave instructions on what to do with them, appoint an executor and securely store your Estate Plan.
We at CLOCR have listed the steps involved in creating an Estate Plan for your Digital Assets. You can read our article here.
Some important tips to keep in mind when you start making an Estate Plan for your Digital Assets:
Use a password manager for your online accounts.
We suggest you use an online password manager like CLOCR’s digital vault to improve security, ease of use and access to your sensitive account details. All you have to do is provide one master username and password to access all your accounts. This makes it easier for you as well as for your executors.
Inform and name two executors.
Inform your nominees before adding them as executors to your estate plan for online accounts. It is recommended to add two executors to your will, just in case one of them is incapacitated or dead before your passing.
Consider an online estate planning tool.
An Online Estate Planning tool such as CLOCR focuses on every aspect of your estate. This way, you are ensured of a strong Estate Plan that focuses on the status of your will.
Check the legacy policies of companies where your online accounts are stored.
Every company may have their own legacy policies. We recommend you check with the respective companies for their legacy policies before making an Estate Plan for your Digital Assets.
Review your estate plan regularly.
Depending on the size of your estate and what you wish to do with your Digital Assets, we suggest you review your Estate Plan once in two or three years. This ensures your Estate Plan for Digital Assets reflects exactly what you want in real time.