Digital Estate Planning: Facebook vs Death
 

You may not have a choice when it comes to the ultimate surmise – that is death, but you do have a choice when it comes to your digital assets. That is your social media accounts and your digital purchases. For instance, did you know that Facebook has a policy to “memorialize your account”?  It is with good intention, as they see it as a way for your friends to remember you while you were still “surfing the net”.  The question you must ask yourself is “do I want my account to stay open?”.  Do I want any of my social media accounts to stay open?  For many reasons, and fraud being among them, this is no small matter.

 

Of course, there are a few of you who do not have social media accounts. Then ask yourself - what happens to my point based programs, digital music or your digital books?  What are your digital assets worth?  According to a study in 2011 by McAfee, they revealed the average American internet user has more than $37,000 in “Digital Assets” (Sept 2011; McAfee). These assets not only have value but memories which your family may cherish. 

 

There are many considerations you need to address, here is an article which you will find of interest   http://www.ahbl.ca/wp-content/uploads/2012/12/Digital-Legacies1.pdf

 

Whether it is to preserve or destroy, it is important to address your digital assets in your Estate Planning.