As business owners, we focus on growing our businesses and securing financial stability for our families. However, one crucial aspect that is frequently overlooked is what happens to our digital assets when we die. In a world where our professional and personal lives are deeply intertwined with digital platforms, it’s essential to plan for the management of these assets after we’re gone. This ensures that your family knows what to do, protecting both your legacy and your business.

What Happens to Your Email Accounts?

Email accounts often hold sensitive information, from business communications to personal financial documents. When you pass away, the fate of these accounts depends on the service provider’s policies:

• Google: Offers an Inactive Account Manager feature, allowing you to designate someone to manage your account if it’s inactive for a certain period.
• Other Providers: May require legal documentation to grant access to a family member.

To safeguard your email accounts:

• List all your email accounts.
• Provide detailed instructions on how to access them.
• Set up features like the Inactive Account Manager where available.

Social Media Accounts: Preserving or Deleting Your Online Presence

Social media platforms play a significant role in both personal and business branding. After your death, your family will need to decide whether to memorialize, delete, or continue managing your social media accounts:

• Facebook: Allows accounts to be memorialized, deleted, or managed by a legacy contact.
• Twitter and LinkedIn: Offer options to deactivate accounts upon request from family members.
• Instagram: Can be memorialized or deleted based on family’s wishes.

To ensure your social media presence is handled according to your preferences:

• Designate a trusted person to manage your accounts.
• Provide clear instructions for each platform.
• Set up legacy contacts where possible.

Digital Files and Documents: Securing Business and Personal Information

Your digital files and documents likely contain critical information vital to your business. To prevent issues after your death:

• Store important documents in a secure, accessible location (e.g., cloud storage, external drives).
• Share passwords and access information with a trusted person or through a secure password manager.
• Create a digital will that outlines the distribution and management of your digital assets.

Online Banking and Financial Accounts: Protecting Your Finances

Managing online banking and financial accounts after death can be complex. To protect your finances:

• List all online banking and financial accounts.
• Provide instructions on accessing these accounts, including login details stored securely.
• Consult with a financial advisor or attorney to include these details in your estate planning.

The Role of a Digital Executor

Just as you would appoint an executor for your physical assets, it’s wise to designate a digital executor for your online presence. This person will:

• Manage your digital assets according to your wishes.
• Have access to necessary login information.
• Be legally recognized in your will or estate plan.

By thoughtfully organizing your digital assets and appointing a digital executor, you can protect your legacy and provide your loved ones with clear guidance during a difficult time. This preparation helps ensure that your business and personal affairs continue to be managed smoothly, even after you’re gone.