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  3.  » Should you have an estate plan for your Facebook account?

Should you have an estate plan for your Facebook account?

| Jun 25, 2018 | Estate Planning |

There are numerous items one needs to include in any estate plan. You need to determine how to divide assets among your loved ones when you die, but many people have begun wondering what will happen to their digital assets after death. 

More attorneys have begun to see people include provisions in an estate plan related to what should happen to digital assets, such as Facebook accounts, Twitter profiles and PayPal accounts, after the person dies. The internet has virtually become a new utility, and people should take the necessary steps to ensure their online personas receive care. 

Assign an executor

You can lay out in a will who should have access to your Facebook account after you die, but you will also want to inform the person he or she will have this responsibility. You should provide log-in information so that the person can get into your account. You should provide your passwords and usernames in full to your executor because it can be next to impossible for someone to retrieve this information from Facebook or Google. 

Create a list of digital assets

You should know exactly what you have online, so you can plan accordingly. After all, a website you own may end up having monetary value in the future. For example, you may run a small blog that barely brings in any money, but after your death, the blog becomes popular and advertisers want to add to the revenue. All kinds of intellectual property can have financial value. 

Review policies of online service providers

Online service providers will typically have language in their service agreements regarding what should happen to an account upon the owner’s death. You will want to review these policies to ensure they are in compliance with what you have put in your will. The service agreement may affect who can and cannot access your account information. 

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