Digital Estates: How to Handle Your Online Presence After You're Gone

Consolidating Accounts and Legal Risks: "I think the biggest risk would be for the financial accounts because the person that does know the password that is the key to the kingdom may not understand where their control starts and where their authority ends, And just because they know the password to that bank account doesn't mean that the dollars sitting in that account are theirs or can be transferred lawfully."— Larae Schraeder

In this episode, we talk about the intricate world of digital estates with our expert guest, Larae Schraeder from Schraeder Law.

As our lives become increasingly intertwined with digital platforms, from social media to online banking, the question arises: What happens to these digital assets when we pass away? Larae will guide us through the legal landscape of digital estates, offering essential tips on how to manage and protect our digital presence effectively in our wills and estate planning.

Top Takeaways

1. Digital assets encompass not only obvious items like social media accounts and online banking, but also less obvious ones such as PIN numbers, passwords, and digital files like photos stored in the cloud.

2. A digital executor is someone appointed to manage and oversee your digital assets after you pass away.

3. Simply knowing someone's password does not legally empower an individual to manage their digital assets.

4. Creating a comprehensive list of all digital assets is a fundamental first step in digital estate planning.

5. Handling digital financial assets, like bank accounts or investments, without proper authorization can lead to legal violations.

6. The executor of a digital estate should ideally be tech-savvy as this role requires managing various types of digital platforms and understanding digital security protocols.

7. Platforms like Facebook and Apple ID allow users to set up legacy contacts who can manage digital assets posthumously without needing the password.

8. Digital estate planning should consider security measures such as two-factor authentication which protects digital information but also acknowledges the executor’s need for access posthumously.

9. Active management of digital assets involves not just accessing accounts but properly closing them or managing ongoing subscriptions and payments.

10. While a will may address digital assets, adding specific instructions for each type of digital asset or account can be beneficial.

Memorable Moments

04:46 Identify all digital accounts and secure them.

09:18 Granting authority must be carefully considered.

12:42 Assets like Amazon points are part of estate.

14:54 Formalize will with specific instructions for executor.

19:56 Identifying and avoiding common client mistakes.

21:40 Set up legacy contacts for Apple and Facebook.

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Recorded in Studio C at 511 Studios. A production of Circle 270 Media® Podcast Consultants.

Copyright 2026 Carol Ventresca and Brett Johnson

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