As the world goes increasingly digital, many of us have amassed sometimes large collections of non-physical assets such as digital photos, music, movies, eBooks, cryptocurrencies and more on our computers, smartphones, portable media players, hard drives and other devices.
Although they are in an electronic format, these assets often have personal or financial value, which can make them part of your estate. And that means they should be included in your estate planning.
In recent years, digital‑life planning has expanded beyond files and media to include cloud storage accounts, password managers, digital wallets, and online “legacy tools” offered by companies like Apple, Google, and Meta. These tools allow you to designate who can access certain accounts after death, and they now play a formal role in estate planning.
What Counts as a Digital Asset
Your digital assets are anything of value that exists solely on your digital devices or in your cloud-based storage accounts. In other words, they can be the files or information accessed through or stored on the internet, in online accounts and in files stored on your computer. These may include, but are not limited to your:
- digital photos
- electronic subscriptions
- digital music files
- eBooks
- digital commercial movies
- intellectual property
- cryptocurrencies
- digital medical records
- emails
- artwork and manuscripts
- home videos
- blogs
- cloud‑stored files (e.g., iCloud, Google Drive, OneDrive, Dropbox)
- social media accounts and content
- loyalty and rewards points (airline miles, hotel points, etc.)
- domain names, websites, and monetized online content (e.g., YouTube, Substack, Etsy)
These assets may have been purchased (e.g., eBooks, music files, Bitcoin) or created by you (e.g. logos, artwork, personal photos, manuscripts).
How Digital Assets Fit into Your Estate Plan
Digital asset estate planning recognizes digital assets as a property right and addresses the process of cataloging, organizing, accessing and planning for the disposition of these non-traditional assets after death or incapacitation.
It also includes planning for “digital access”, such as password managers, passkeys, two‑factor authentication devices, and cloud‑based accounts, which your executor may need in order to reach the underlying assets.
Where Online Accounts Fit In
While online banking and brokerage accounts are accessed digitally, the underlying assets are not considered digital assets. However, access to these portals (banking logins, HSA portals, 529 accounts, credit card dashboards) is still part of your digital‑life inventory because your executor may need to interact with them during estate administration.
Why Planning Ahead Matters
Before we lived in a digital world, bequeathing one’s assets was often simpler. A physical album collection could be passed along with a line in a will.
Today, many of those same albums may exist only as digital files stored on a hard drive or in a cloud account. Without clear planning, it can be difficult to ensure the right beneficiaries receive the specific assets you intend.
Digital estate planning also helps prevent common access barriers such as locked devices, encrypted drives, two‑factor authentication prompts, or cloud accounts that automatically delete data after periods of inactivity.
Why Password Sharing Isn’t Enough
Sharing passwords may work for assets stored directly on your personal devices, but it is not always legal or effective for online accounts. Terms of Service and state and federal laws may prohibit unauthorized access, and companies are not required to provide access without proper documentation.
Most major platforms now offer built‑in “legacy” or “inactive account” tools (e.g., Apple Digital Legacy, Google Inactive Account Manager, Meta Legacy Contact). Under current law, these tools override both your will and the platform’s Terms of Service, making them an important part of your planning.
Steps to Build a Modern Digital Estate Plan
Nearly all states have now adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which governs how executors and agents can access digital information. RUFADAA prioritizes:
- online legacy tools,
- your estate documents, and
- the platform’s Terms of Service.
A strong digital estate plan begins with a complete inventory of your digital life. This includes:
- Digital assets (files, photos, crypto, intellectual property)
- Digital access (password manager, passkeys, 2FA devices)
- Digital accounts (cloud storage, email, social media, subscription platforms)
- Digital obligations (auto‑renewing subscriptions, SaaS tools, memberships)
Once your inventory is complete, an estate planning attorney can help you document your wishes, designate who should receive or manage each category of assets, and ensure your plan aligns with your state’s governing statute.
At Modera, we take into consideration a wide range of issues in our clients’ financial world, offering guidance and support for issues you bring to us, and for those you might not have yet thought of. We also can work closely with your other financial advisors, such as your attorney and your CPA, as well as your loved ones, to help see that your financial life is going according to plan. If you’d like to discuss this or any other financial topic that interests you, please get in touch.
