Chances are, you are reading this blog on a computer monitor, laptop, smartphone, or tablet. In a given day, you probably check your email multiple times, read a couple news articles on a portable device, and check your favorite websites for updates and messages. You might also pay your bills online with the click of a mouse. These days, it’s even possible to deposit a check directly into your bank account by using your smartphone camera.
Technology has transformed our lives, and it certainly makes daily chores and tasks more convenient. But what happens to all these accounts when we die? We live so much of our lives online; we need to think about how we want our online lives handled when we pass away.
“Digital Assets” and Estate Law
Currently, just five states – Idaho, Indiana, Oklahoma, Connecticut, and Rhode Island – have laws on their books that govern a deceased individual’s “digital assets.” In the remaining 45 states, including Florida, the law is silent on the issue of digital assets after death. This presents tremendous difficulty for grieving family members who must work directly with Internet companies and banks to access their loved ones’ accounts and information. Because the conditions and terms of service for these various accounts differs from company to company, it can be frustrating, time-consuming, and expensive for survivors and beneficiaries to track down passwords, close accounts, and withdraw remaining funds. Social media sites are also notorious for refusing to grant loved ones access to deceased family members’ accounts. Some families have even had to obtain court orders to force popular websites to turn over passwords.
Options for Online Accounts After Death
Although the law regarding online accounts is unsettled, there are numerous options for people who want to get their digital affairs in order. Some people have opted to create so-called “social media wills” that list all their social media accounts and passwords for a digital “executor.” The problem with these documents is that most people change their passwords from time to time.
One alternative to a social media will is to use an online service designed to provide a designated individual with access to your accounts after you die. There are several companies that offer this service, such as Password Box (formerly known as Legacy Locker) and LastPass. These services store all your passwords in one online location, so the person you appoint as your digital representative doesn’t have to hunt down information for a broad variety of accounts.
If you have online assets, tangible assets, or both, you need an estate plan. Call my Stuart, Florida office today at 772-220-9699.
This website has been prepared by Gregory H. Zogran, P.A. for informational purposes only and does not, and is not intended to, constitute legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice from an attorney licensed in your jurisdiction.