Everyone is probably familiar with the concept of a traditional Last Will and Testament. This is a legal document that sets out a person’s wishes in the event they pass away. It will typically cover areas such as:
- Funeral plans and how to fund it.
- Who will inherit any assets or property?
- How any liabilities should be settled.
- Childcare arrangements for any children under the age of 18.
- Who should “execute” the will?
The preparation of a will is something every working-age adult should consider. If you have children, this becomes even more important to sort out early in life. This will give you the peace of mind that your affairs will be straightforward to handle in the event of an early passing.
So, what is a Digital Will, you may ask?
As well as your physical assets in life – homes, cars, savings etc, we all now possess a substantial digital presence. Planning how to handle this information after passing is now essential.
What is included in a Digital Will?
A digital will typically consist of:
- A list of websites that you maintain active accounts.
- Details of what you would like to do with each account
- Close and delete – all data will be destroyed, and the account will be made unavailable.
- Memorialize – some sites allow you to switch an account into a memorial mode. This will maintain historical content but restrict the new content to be added.
- Remain active – if the site’s terms and conditions permit, it may be possible for a nominated person to take over your account.
- A list of passwords for accessing accounts.
- Details of any physical media containing personal information and what you would like to do with it. Note this should match with the wishes in your traditional will to avoid any conflicts.