Digital assets include online accounts, social media profiles, digital photos, cryptocurrency, and email accounts. These assets often hold personal or financial value, making them an important part of your estate plan.
North Dakota’s adoption of the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) establishes rules for managing digital assets after death.
Creating an inventory
Start by listing your digital assets, including usernames, passwords, and any associated access information. Specify where these accounts are located and their significance. This inventory helps your loved ones or executor locate and manage your digital assets efficiently.
Including digital assets in your will
Your will should detail how to handle your digital assets. This can include transferring ownership, closing accounts, or preserving certain content. North Dakota law allows you to authorize a fiduciary, such as an executor, to manage these assets. However, avoid listing sensitive information like passwords directly in your will, as it becomes public after probate.
Using online tools
Many platforms, such as Google and Facebook, provide account management tools to designate who can access your account or determine what happens to it after death. Using these tools ensures your wishes are clear and reduces confusion for your heirs.
Providing clear instructions
Your estate plan should include clear instructions for managing your digital assets. Store access information in a secure location, such as a password manager, and outline the steps your executor should follow to handle these accounts. Providing guidance helps prevent complications and ensures your digital legacy aligns with your wishes.
Planning for the future
Including digital assets in your estate plan protects them and prevents unnecessary stress for loved ones. Careful planning secures both personal and financial aspects of your digital life.