Millennials have built a significant portion of their lives online. From cryptocurrency investments to social media accounts and digital businesses, these assets hold real financial and personal value. Yet, many people overlook them when thinking about estate planning. Unlike physical property, digital assets can be difficult for loved ones to access without the right legal arrangements. Without a plan, accounts may be lost, businesses could shut down, and valuable content might disappear. Protecting these assets now ensures they remain secure and pass on according to your wishes.
Protecting Your Cryptocurrency and Digital Wallets
Cryptocurrency is unlike traditional bank accounts—it exists only in digital form and requires private keys for access. Without those keys, your crypto holdings could be lost forever. Unlike banks, most crypto platforms won’t provide access to heirs without clear legal instructions. That’s why planning ahead is so important.
Start by keeping an updated inventory of your cryptocurrency, including wallet addresses and private keys. Store this information securely, whether in a password manager, an encrypted document, or a physical backup in a secure location. However, never include private keys directly in a will, as it becomes public record after probate.
Naming a digital executor—someone who understands cryptocurrency—can also help ensure your assets are properly handled. Your estate plan should clearly outline who inherits your holdings and how they should be transferred. Without these steps, your crypto could be locked away permanently, leaving your loved ones without access to its value.
Ensuring Continuity for Your Online Business
If you own an online business—whether it’s an e-commerce store, blog, consulting service, or digital content platform—it needs a plan for the future. Without clear instructions, your accounts, contracts, and revenue streams could be lost or mismanaged, leaving customers and business partners in the dark.
Start by identifying someone you trust to manage or inherit your business. This could be a business partner, family member, or designated executor. Provide them with access to key accounts, including website hosting, payment processors, and customer databases. A password manager or legal document can help ensure they have what they need.
A business succession plan or operating agreement can also outline how ownership transfers, whether the business continues, or if assets should be sold. Without these details in place, your online business could face sudden shutdowns or legal complications. Taking proactive steps now ensures that what you’ve built doesn’t disappear overnight.
Managing Social Media, Digital Content, and Personal Accounts
Social media accounts, cloud storage, and digital content libraries hold both personal and financial value. Whether you have monetized content, personal photos, or creative work stored online, these assets need protection. Without a plan, they may be deleted, misused, or locked away from loved ones.
Many platforms allow you to designate legacy contacts or provide instructions for account management after your passing. Facebook, for example, offers memorialization options, while Google lets you set an inactive account manager. Taking advantage of these tools can help ensure your accounts are handled according to your wishes.
Beyond social media, digital content—such as blogs, videos, music, and documents—should be included in your estate plan. Create a secure list of login credentials and decide whether to preserve, transfer, or close accounts. Appointing someone to manage your digital footprint ensures that important memories and valuable content are not lost or mismanaged over time.
Steps to Take Now: Building a Digital Estate Plan
Planning for your digital assets now can prevent complications later. Follow these steps to ensure your cryptocurrency, online business, and personal accounts are protected:
- Make an inventory – List all digital assets, including accounts, passwords, and financial holdings.
- Choose a trusted individual – Designate someone to manage your digital assets after your passing.
- Secure your login details – Use a password manager or a legally protected document to store credentials.
- Update your estate plan – Include instructions in your will or trust for managing and distributing digital assets.
- Consult an estate planning attorney – Ensure your plan meets legal requirements and aligns with your wishes.
Secure Your Digital Legacy Today
Your digital assets hold real value—don’t leave them unprotected. A clear plan ensures your cryptocurrency, online business, and personal accounts are handled as you intend. At Surprenant & Beneski, P.C., we will help you create a comprehensive estate plan that secures your digital wealth. Contact us today to get started.
