In today’s digital age, your online presence holds more value than you might think. From email accounts and social media profiles to online banking and digital photo libraries, your digital assets are part of your estate and they shouldn’t be overlooked in your will.
If you live in North Vancouver and are planning your estate, understanding how to manage your digital legacy is just as important as distributing your physical assets. A notary public specializing in wills and estate planning can guide you through the process to ensure everything is handled legally and securely.
What Are Digital Assets?
Digital assets include any content or account that exists online or on digital devices. These can be:
- Email accounts
- Cloud storage (Google Drive, Dropbox)
- Social media (Facebook, Instagram, LinkedIn)
- Subscription services (Netflix, Spotify)
- Cryptocurrency wallets
- Online banking and investment accounts
- Personal websites, blogs, and domain names
- Digital photo albums and videos
Each of these assets may have personal, sentimental, or even financial value.
Why You Need to Include Digital Assets in Your Will
Most people plan to leave behind property, money, and personal belongings, but digital assets are often forgotten. Here’s why including them in your will and estate planning is essential:
- Access Issues: Without legal instructions, loved ones may struggle to access or close your online accounts.
- Privacy Risks: Unattended accounts could be hacked or misused.
- Financial Impact: Some digital assets hold real value, cryptocurrencies or monetized blogs, for example.
- Sentimental Value: Family photos, messages, or social posts can be lost forever if not preserved.
How to Manage Your Digital Legacy
Here are some practical steps to take when organizing your digital legacy:
1. Take Inventory
List all your digital accounts and assets. Include login details, where possible, and indicate whether you want each asset transferred, deleted, or memorialized.
2. Choose a Digital Executor
Appoint a trusted person to handle your digital affairs. This can be the same executor managing your general estate or a separate one.
3. Add Digital Instructions to Your Will
Work with a North Vancouver notary public to legally document your wishes. Digital estate laws vary, and a professional can help ensure your instructions are valid.
4. Use Secure Storage
Store your digital inventory and login credentials in a secure location, such as a password manager or locked physical file.
How a Notary Public Can Help
A notary publicplays a vital role in helping you prepare a will that covers both traditional and digital assets. Their expertise ensures your documents meet BC’s legal standards and that your loved ones won’t face unnecessary obstacles.
In addition to wills and estate planning, our notary services also include:
Whether you’re updating an old will or creating one for the first time, now is the perfect time to include your digital legacy.
Let’s Plan Your Digital and Traditional Legacy
Managing your digital legacy is a thoughtful gift to your loved ones. Don’t leave your online life to chance.
Book a consultation with our North Vancouver notary public today to ensure your will includes all your digital and personal assets. We’re here to help you with every step of your estate planning journey.
FAQ:
Q: Can I include passwords in my will?
A: It’s not recommended to include passwords directly in your will since it becomes a public document after probate. Instead, store them securely and refer to that storage in your will.
Q: What happens to my Facebook account after I die?
A: Facebook allows accounts to be memorialized or deleted. Your digital executor can carry out your wishes if you’ve stated them clearly.
Q: What is a digital executor?
A: A digital executor is someone you appoint to manage your online accounts and digital assets after your death.
Q: Are digital assets considered in BC estate laws?
A: While BC law doesn’t yet have detailed legislation on digital assets, a notary public can help structure your will to address them effectively.
