Why Your Online Life Needs Planning Too
Much of modern life now exists online. From banking and investments to photos, emails and social media, your digital presence forms a significant part of your personal and financial legacy.
Yet digital assets are often overlooked in estate planning—leaving loved ones locked out, assets lost, or decisions made without guidance.
A modern estate plan should address not only what you own, but how your digital life is managed if you lose capacity or pass away.
What Are Digital Assets?
Digital assets can include:
- Email accounts
- Online banking, investment and superannuation portals
- Social media profiles
- Cloud‑stored photos, documents and videos
- Subscription services
- Cryptocurrency and digital wallets
- Websites, domain names and online businesses
- Loyalty points and reward programs
Some digital assets have clear financial value. Others are emotionally irreplaceable.
Both deserve careful planning.
The Problem: Access Isn’t Automatic
Unlike physical assets, digital accounts are controlled by platform rules and privacy laws—not just your will.
In many cases:
- Password sharing is prohibited
- Accounts may be locked or deleted after death
- Executors may not have legal access without prior authority
- Overseas platforms may be subject to foreign laws
Without clear instructions and legal authority, even the most organised executor can be blocked from accessing critical information.
Practical Steps to Protect Your Digital Legacy
- Create a Digital Asset Inventory
Start by listing:
- Your key online accounts
- Associated usernames or email addresses
- Devices used to access them
- Where important data is stored
This inventory should be kept securely and updated regularly. It should not be included directly in your will, which becomes a public document.
- Decide What You Want Done
Different assets may need different outcomes:
- Personal photos or emails preserved for family
- Social media accounts memorialised or deleted
- Subscriptions cancelled
- Financial accounts transferred or closed
- Online businesses managed, sold or wound down
Clear instructions reduce confusion and emotional burden for your loved ones.
- Appoint the Right Authority
Consider whether:
- Your executor is comfortable managing digital matters
- A separate digital‑savvy executor is appropriate
- Your Enduring Power of Attorney includes authority over digital assets if you lose capacity
This is particularly important for cryptocurrency, online trading accounts or business systems.
- Provide Secure Access—Without Sharing Passwords
Rather than writing passwords down:
- Use a reputable password manager
- Store access instructions securely
- Ensure your executor has legal authority and guidance on how to obtain access
Security and legality are just as important as convenience.
- Align Digital Wishes With Your Legal Documents
Your digital instructions should work seamlessly with:
- Your will
- Powers of attorney
- Binding nominations and platform‑specific directions
Inconsistencies can delay estate administration or create disputes.
- Review Regularly
Digital lives change quickly. New platforms, accounts and technologies emerge all the time.
A good rule of thumb:
- Review your digital inventory annually
- Update it after major life events
- Revisit it whenever you update your estate plan
Why Digital Estate Planning Matters
Failing to plan for digital assets can lead to:
- Loss of irreplaceable memories
- Financial assets becoming inaccessible
- Increased risk of identity theft after death
- Higher costs and delays for executors
- Stress and conflict for family members
Digital estate planning is no longer optional—it’s part of responsible, modern planning.
How Priority1 Can Help
At Priority1, we help clients integrate their digital lives into a clear, secure and practical estate plan—so nothing important is overlooked.
We work with you to:
- Identify digital risks and assets
- Align digital instructions with your legal documents
- Reduce stress for your loved ones
- Ensure your wishes are carried out with clarity and confidence
If you’d like help reviewing or updating your estate plan, including your digital assets, we’re here to guide you.