The Importance of Including Digital Assets in Your Will
As our lives become increasingly digital, so does our legacy. From online bank accounts and cryptocurrency wallets to treasured photos stored in the cloud, our digital presence holds both monetary and emotional value. Yet, many people overlook these assets when creating an estate plan. Including digital assets in your will is essential to ensure your loved ones have access—and that your wishes are respected.
This article will discuss the importance of including digital assets in your will and provide tips from an experienced Milwaukee estate planning lawyer for how to go about doing so.
Jump to article sections:
- What Are Digital Assets?
- Why Digital Assets Matter in Estate Planning
- Common Mistakes People Make with Digital Assets
- How to Include Digital Assets in Your Wisconsin Will
- Should You Include Passwords in Your Will?
- How a Milwaukee Estate Planning Attorney Can Help
- Updating Your Will to Include Digital Assets
- Securely Managing Your Digital Legacy
- Get Started Today
1. What Are Digital Assets?
Digital assets include any online or electronically stored content or accounts that you own or control. Examples include:
- Email accounts (Gmail, Outlook)
- Social media accounts (Facebook, Instagram, X)
- Cloud storage (Google Drive, Dropbox)
- Online financial accounts (PayPal, Venmo, crypto wallets)
- Domain names and websites
- Digital photos, videos, and music libraries
These assets can have both sentimental and monetary value, making them an important part of your estate.
2. Why Digital Assets Matter in Estate Planning
Without proper planning, your family may face legal roadblocks trying to access important digital accounts. In some cases, they could even lose valuable content or funds. Including digital assets in your estate plan ensures:
- Authorized access for your executor or family
- Prevention of identity theft
- Retention of valuable personal memories
- Protection of financial or business assets stored online
3. Common Mistakes People Make with Digital Assets
Here are a few common oversights:
- Not creating a digital asset inventory
- Failing to appoint a digital executor
- Including passwords directly in the will
- Assuming next of kin will gain access automatically
Unfortunately, digital platforms have their own terms of service that can limit post-death access without clear legal permission.
4. How to Include Digital Assets in Your Wisconsin Will
The state of Wisconsin allows you to legally designate someone to manage your digital assets after death. Here’s how to do it:
- Create a digital inventory: List all digital accounts, storage locations, and assets.
- Name a digital executor: This person will manage and access your digital assets.
- Include authorizations: Your estate documents should explicitly state that your executor has the authority to access your digital assets.
- Use secure storage: Store passwords and login credentials separately (not in the will).
5. Should You Include Passwords in Your Will?
No. While your will can reference digital assets, it should never include login details. Wills become public record after death, which can create security risks. Instead:
- Use a password manager or encrypted document
- Store credentials in a secure, accessible place
- Inform your attorney or executor where to find them
6. How a Milwaukee Estate Planning Attorney Can Help
At Margerie Law, we work with Milwaukee-area clients to ensure their digital assets are protected and included in their estate plans. We can help you:
- Draft or update your will to comply with Wisconsin laws
- Create a digital asset inventory
- Designate a trusted digital executor
- Coordinate your digital plan with powers of attorney and trusts
Explore more on ourEstate Planning Blog and see how we’ve helped others on related topics like Wills vs. Trusts and Why Everyone Needs an Estate Plan.
7. Updating Your Will to Include Digital Assets
Your estate plan should evolve with your digital life. Review your documents if you:
- Create new online accounts or assets
- Buy cryptocurrency or domain names
- Change your digital executor
- Haven’t updated your will in 3–5 years
Remember: your estate plan should reflect your full legacy—both physical and digital.
8. Securely Managing Your Digital Legacy
There are new tools and features on many platforms that allow you to designate a contact or preserve content. Be sure to activate these settings where available.
Also consider:
- Creating a digital legacy plan using legal tools and tech solutions
- Discussing your wishes with your family or executor
- Keeping documentation updated and in a secure place
9. Get Started Today
It’s never too early to start thinking about managing your digital legacy. The first step is to assess your current digital footprint and think about what you want to happen to it after you pass away or are no longer able to manage it.
Here are some questions to get you started:
- What online accounts do I have?
- How important is the content on these accounts and do I want it preserved?
- Do I want anyone else to access my online accounts when I am gone?
- Who would be the best person to handle my digital assets?
Once you have answered these questions, you can begin taking steps towards securing your digital legacy. This may include designating a trusted contact on social media platforms, setting up a password manager, or creating a digital will to outline your wishes for your online presence after you pass away.
It’s important to regularly review and update your list of online accounts and their corresponding login information. Additionally, consider discussing your plans with loved ones and including them in the process. This not only ensures that they are aware of your wishes but also allows them to assist you in managing and securing your digital assets.
Remember, taking care of our digital legacy is just as important as taking care of our physical possessions. By being proactive and staying informed, we can ensure that our digital presence is managed and protected according to our wishes, even after we are gone.
By Paul Margerie, Owner of Margerie Law
Paul Margerie of Margerie Law is a knowledgeable and experienced estate planning attorney based in Wauwatosa, WI. With years of experience helping families and individuals with their estate plans, he offers a gentle touch that puts his clients at ease. He understands the sensitive nature of this work and ensures that all details are taken care of with precision and accuracy. He strives to help each client achieve peace of mind that their future is protected by providing personalized advice and creating tailor-made solutions that fit their individual needs.
