Peace of Mind In A Digital Age

Brenda “Bren” Sheriff, Certified Senior Advisor (CSA)
Brenda “Bren” Sheriff, Certified Senior Advisor (CSA)

Peace of Mind In A Digital Age

Many people believe that once they’ve created a will or living trust, their estate planning work is done. But in today’s digital age, that’s only part of the story. If your estate plan doesn’t address your digital assets, you may be leaving your legacy—and your loved ones—vulnerable.

Digital assets are anything stored online or electronically. That includes your online banking accounts, PayPal, investment apps, crypto wallets, emails, photos, cloud storage, social media platforms, subscription services, airline miles, and even e-commerce sites or blogs. These digital possessions often have monetary, sentimental, or legal value. Without clear instructions, your executors may not be able to access them—leading to costly delays or permanent loss.

Consider these common roadblocks:

  1. Password Protection – Most digital platforms won’t allow access without login credentials, even for your next of kin.
  2. Legal Hurdles – Without proper authorization, your family could be blocked from accounts entirely.
  3. Loss of Legacy – Irreplaceable photos, writings, or business data could disappear forever.

To avoid this, here are five simple steps to include digital assets in your estate plan:

Step 1: Make an Inventory
List all digital accounts, usernames, and the location of password information. Never include actual passwords in plain text.

Step 2: Appoint a Digital Executor
Choose someone you trust who is tech-savvy and capable of managing your digital presence after your passing.

Step 3: Secure Passwords
Use a password manager like LastPass or 1Password. Or, store login details in a locked safe and leave access instructions.

Step 4: Provide Legal Permission
Update your will or trust to authorize your digital executor under Illinois' RUFADAA law, which has governed digital asset access since 2016.

Step 5: Keep It Updated
Digital lives change quickly. Review your digital estate plan yearly or when you update accounts.

Final Thought: Peace of Mind in a Digital Age
Adding digital assets to your estate plan gives your loved ones clarity, access, and peace during an already difficult time. It costs little to start and safeguards everything you’ve built online.

Start today. Your digital life deserves just as much protection as your physical one.

Bye for now,

Brenda “Bren” Sheriff, Certified Senior Advisor (CSA)


QUIZ: Is term life insurance ever a better choice than whole life insurance? 

 

Answer to last week’s quiz: The main reasons that Black people do not have an estate plan are lack of knowledge and fear of death. 

To get a more detailed answer to last week’s QUIZ question or for any financial questions that you may have, please contact me: 773-817-0601 or basheriff1@gmail.com

Disclaimer: The illustrations presented in this column are not, nor are they intended to be, legal, financial, or any other licensed professional advice, you should contact the licensed professional of your choice for advice on your individual situation.


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