Managing Digital Data: Ensuring a Smooth Transition for Loved Ones

Effectively managing our online presence and digital data has become an essential aspect of a comprehensive estate plan. It is now imperative to consider our digital assets and how we intend to transition them to our loved ones after we pass away. In this article, we will highlight the key steps to proactively manage this handoff when the inevitable occurs. The Growing Significance of Digital Assets: In recent years, the reliance on digital platforms for personal and professional use has skyrocketed. From social media accounts and email communications to subscriptions (i.e. Apple Music) and reward points, our digital lives have become a treasure trove of memories and important information. According to a survey conducted by the Pew Research Center, 69% of adults use social media, and if users don’t identify these accounts before they pass their loved ones won’t be able to access it or, in the case of rewards, inherit those points. Create an Inventory: Start by creating a comprehensive list of your digital assets, including social media accounts, online banking, email accounts, rewards, subscriptions, and digital media libraries. Make sure to include relevant usernames, passwords, and any instructions or wishes regarding the management of these assets. Within ReadyWhen we built a guided section titled Digital where you can identify, store, and save key digital accounts and information. Appoint a Digital Executor: Designate a trusted individual who will handle your digital assets according to your wishes. Discuss your intentions with them and provide them with the necessary access and instructions. This person should be familiar with your digital life and should have the legal authority to act on your behalf. ReadyWhen has created a feature called Teams to enable users to create and add a group of trusted individuals so they can access important information before or after the inevitable happens. These important steps are critical in today’s paperless world. Without leaving the right breadcrumbs for your loved ones it can take years, thousands of dollars, and a lot of stress to settle your estate. This is the time to consider a digital legacy service like ReadyWhen. With thousands of users and over 23,000 items stored on our platform, we are helping a legion of Canadians become proactive planners. Sign up for free at www.readywhen.com.