What Happens To My Digital Accounts When I Die?
So much of what we do on a daily basis is digitally based. From important documents to casual conversations, our lives are filled with accounts, logins and passwords. Because we login and monitor things from a cell phone, computer or tablet so frequently, we seldom give those accounts a second thought. But living in a digital age, also means we eventually die in a digital era. So what happens to you Instagram account, Facebook photos or recurring subscriptions? When you’re gone, what happens to your bank accounts, loans or email accounts? The accounts don’t just disappear, right?
What Happens to Your Online Persona When You Die?
If you’re one of the 1 billion Facebook users or among the 100 million Instagram accounts, you know it’s difficult enough to keep up with social media while you’re living, much less when you’re gone. Here’s something to ponder: A University of Massachusetts statistician, Hachem Sadikki, predicts Facebook will have more dead users than living by 2098. With many social sites leaving accounts open until they are manually deleted or closed by the user, which leaves room for a lot of hacking.
Banking accounts are another private matter we tend to handle online and rarely share login credentials. Unless it’s a joint account, closing or taking over a financial account can be difficult for your loved ones in the event of your passing. Without direct instructions, as with a will or trust, the court may decide the best way to split up your personal accounts.
Build A Plan
When you obtain life insurance, make it a priority to also create a digital assets list. You’ll save your loved ones the time and trouble of attempting to blindly sort through your accounts. Create a digital assets plan by:
Buying life insurance: In addition to covering your final expenses and relieving your loves ones of that burden in an already difficult time, life insurance will support your family financially without your income.
Creating a will: Creating a will isn’t what you do when you’re of a certain age or become terminally ill. Anyone with money, assets or property should have a will. A will is the document that specifically releases your belonging – home, cash, and belongings – to particular family members, friends or groups (like a university, non-profit, or club).
Developing an account on a password app: Companies like LastPass and 1Password handle all of your personal info such as passwords, credit card numbers, passport, licenses and more. The services conveniently store all your info in one place and offer emergency access to an appointed person in case you’re unable to act on your own behalf.
Communicate Your Wishes
Now that you have a plan, share it with your loved ones. You may also choose to simply confide in your beneficiary. Share with them what you wish to happen with your digital accounts in the event of your death. If it’s easier for you to write that conversation, consider a digital journal. Utilizing a journal app will help you communicate your wishes when you cannot.
