We’ve written ad nauseum about how less that half of Americans have a will. Well, almost that many also forget to include their digital assets in their estate plan.
Most Americans don’t keep track of their online assets like Paypal, Facebook, and merchant loyalty reward programs and chances are will forget to include them in their estate plans. By neglecting these things a it can cause hassles for beneficiaries, powers of attorney and executors.
One group of things that people tend not to think of are reward programs like frequent flyer miles. For example, Anthony Bourdain left his unused frequent flyer miles to his estranged wife and they were substantial. We suggest you write down all your digital assets including logins and passwords and store them when only someone you trust knows where they are.
If you find it all too daunting there are businesses popping up that will do it for you. One business is out of Durham, North Carolina called Back Up Your Life which their site says
We help you organize your life’s documents, details, and contingency plans. If you’re ready to be ready, let’s back up your life.
Then there are digital estate services, such as Everplans, which helps her clients by providing a digital archive of everything your loved ones need if you die or get into an accident and can’t communicate.
Among the things Everplans takes care of:
- Wills, Trusts, and insurance policies
- Important accounts and passwords
- Info about your home: bills, vendors, etc.
- Health and medical information
- Advance Directives and DNRs
- Final wishes and funeral preferences