Most of us didn’t grow up thinking facets of our lives would end up being stored in the cloud. But here we are: bank accounts, family photos, work files, and even the way we stay in touch with friends now live online.
According to the Bryn Mawr Trust 2024 Digital Asset Survey, the average American already has hundreds of accounts and values their digital assets at about $191,516. Despite this, only 29% of respondents are “very” or “somewhat” knowledgeable about digital assets.
That raises an important question: What happens to all of this when we’re gone?
Estate planning services used to focus mainly on money and physical belongings. Today, it also includes the digital parts of our lives: everything from sentimental photos to cryptocurrency wallets.
Whether you use only a few online accounts or you run a business from your laptop, preparing for your digital legacy helps your family avoid pitfalls later.
This guide walks through why managing digital assets matters, what counts as part of your digital estate, and how Georgia families can put simple steps in place to stay protected.
What Counts as a Digital Asset?
When people hear “digital assets,” they usually think of emails and bank accounts, but the category is much broader. It includes nearly every part of your online life and every device you use to store personal or financial asset information.
Social Media Accounts, Email, and Online Banking
If you have a Facebook, Instagram, or LinkedIn account, that’s part of your digital estate. So are your email accounts, cloud storage accounts, online banking, investment accounts, and any cryptocurrency holdings or investment strategies.
All of these require passwords or security steps that someone else may not be able to access without your help.
Digital Property and Computer Files
Think about your subscriptions, personal websites, eBooks, digital music, cloud-based work files, tax records on your home computer, or even airline miles and credit card points. These can hold financial or sentimental value, and they don’t transfer to loved ones automatically.
Electronic Devices and Stored Account Data
Your phone, laptop, tablet, messages, contacts, and documents all contain important pieces of your life. They’re as much a part of your digital estate as other traditional assets. Once you can see the full picture, you’re in a much better position to protect it.
Why Digital Assets Matter in Estate Planning
With so much of our lives now online, omitting digital assets from your estate plan can lead to real problems later. From identity theft to lost memories and unexpected costs, the risks are tangible, especially for your loved ones who may be left trying to sort things out.
Securing Your Digital Accounts
Without instructions, your loved ones may not know what accounts you have or what you’d want done with them. Unattended accounts, digital files, and computer systems can also become targets for hacking long after you’re gone.
According to one survey, about 69% of estate and financial-planning professionals said they are now incorporating digital tools or assets into their clients’ plans. However, only about 15% of general respondents to the Bryn Mawr survey said their estate plans covered digital assets.
Preventing Loss of Valuable Files or Property
Photos, private electronic communications, audio files, business records, or access to online accounts can disappear forever if no one can locate or open them. Even smaller accounts can have real value.
This is an especially important concept in the era of cryptocurrencies. For example, Bitcoin is a finite digital currency, but up to 18% of the total supply (potentially 3.7 million Bitcoins) are considered permanently lost due to inaccessibility.
Making Sure Online Assets Go Where You Want
If you own a small business, donate through online platforms, or manage important records digitally, clear guidance helps make sure the right person takes over.
Without naming a trusted person (and giving them the authority) to carry out your digital wishes, your digital estate may end up not matching your intent. Additionally, loved ones may struggle with confusion, conflict, or legal fees.
Digital Asset Estate Planning for Georgia Families
Here in the Atlanta area, many families already take steps to stay organized and plan ahead. Extending that care to your digital assets can help your loved ones avoid stress down the road.
Create a Digital Asset Inventory
List all your online accounts: social media, banking, cloud storage, photo libraries, medical records, and subscriptions. Include the account purpose and username. Password managers like LastPass or 1Password can help keep everything organized and secure.
Choose a Digital Executor You Trust
Select a person who can step in to manage your online accounts if you’re unable to do so. This might be a spouse, adult child, close friend, or someone familiar with your financial or digital habits.
Your will or power of attorney should formally name this individual, and they should know where to find your account inventory and any instructions you’ve prepared. Giving them clarity now helps them handle things smoothly later.
Add Digital Assets to Your Estate Plan
Once you’ve identified your accounts and your chosen representative, meet with your estate planning attorney to add clear instructions for how those digital assets should be handled. This can include access permissions, what you want done with specific accounts, and how sensitive information should be managed.
Including these details in your estate plan prevents confusion, avoids delays, and gives your family an easy-to-follow roadmap during a difficult time.
Including Digital Assets in Your Plan
Traditional estate plans still matter, but adding digital assets creates a complete, thoughtful plan. You want to account for the whole picture, not just physical elements.
Specify Access to Communications
Think about who should manage or delete your email accounts, cloud storage, private messages, or digital photos. These spaces often hold years of personal conversations, family memories, and sensitive documents.
Naming someone to handle them (and explaining what you want done) removes a great deal of uncertainty for your loved ones.
Address Online Profiles and Bank Accounts
Your estate planning attorney will guide you through how online bank accounts, investment platforms, and rewards programs should transfer in the future.
Many companies have strict policies about who can access certain accounts after someone passes away. Setting clear instructions now helps your family avoid delays or unexpected roadblocks and makes sure these assets end up where you intend.
Keep Passwords and Security Steps Organized
Passwords, security questions, and two-factor authentication can lock people out easily. Keep your details updated and stored in a secure location. Tools like Google’s Inactive Account Manager allow you to choose who gets notified if your account goes unused or if you receive important online communications.
Legal and Privacy Considerations for Accessing Digital Assets
Because digital assets are tied to online platforms and governed by a patchwork of state laws and company policies, managing a digital estate involves more than simply handing over a password. There are important legal and privacy rules that shape how and when you can grant access.
State and Federal Guidelines
Georgia follows the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA). This allows someone you appoint to access your digital assets with proper authorization. Even so, each company has its own limits.
Protecting Personal Information
Keep your digital asset management plans private. Share them only with trusted family members or professionals.
Reviewing Terms of Service Agreements
Every online platform and social media account has its own rules about what happens after someone dies or becomes incapacitated. Some services allow you to name a legacy contact or set data-sharing preferences, while others strictly limit what information can be released, even to family members.
Taking a moment to review these policies now helps your loved ones avoid unexpected roadblocks later.
How to Get Started With a Digital Estate Plan
You don’t have to organize your entire digital life in a single afternoon. Starting with a few manageable steps can make the estate planning process feel much more doable and still offer meaningful protection for your family.
1. List Your Online Accounts
Begin by creating an inventory of the accounts you use regularly: email, banking, investments, social media, cloud storage, subscription services, loyalty programs, intellectual property, and any business-related platforms. Note what each account is for and where it’s located.
You can store this list in a password manager, a secure digital vault, or even a written document kept in a safe place. The goal is simply to provide someone a clear roadmap if they ever need to gain access.
2. Update Your Estate Planning Documents
Next, work with your estate attorney to add instructions about your digital assets to your will, power of attorney, and trust documents. This includes naming someone who can access digital assets, outlining what you want done with them, and identifying any sensitive data that should be handled carefully.
3. Tell the People Who Need to Know
Once your plans are organized, let your chosen representative (and any close family members who may be involved) know where these documents are safely stored. They don’t need your passwords today, but they should know how to locate the information when the time comes.
Take a Thoughtful Step for Your Family’s Future
Digital estate planning is about defending your privacy, honoring your wishes, and giving your loved ones clear instructions during a hard time. As more of our daily life shifts online, planning for your digital assets matters just as much as planning for your home, financial accounts, or personal belongings.
If you’re ready to build a plan that truly accounts for your full digital and financial life, Chandler Law is here to guide you through each step. Our team helps families in the Atlanta metro area understand their options, structure their digital estate alongside their traditional documents, and implement thoughtful protections.
Schedule a consultation to create a plan that facilitates a smooth transition for you, your family, and your digital footprint.
