What happens to your Facebook profile after you become incapacitated or pass away? What about your email account? The rest of your digital assets?
After you pass away or are unable to access these digital accounts, it is going to be difficult for anyone else to access them.
According to Ottawa Business Journal, “There is an overwhelming gap in the law, which has not kept up with technology, regarding one’s ability to access information about another person’s digital assets.”
In Ontario, there is no legislation dealing with this type of ownership, so you may wish to include digital asset transfer of ownership in your will. Your digital estate plan should include your passwords and your wishes for these accounts after you are no longer able to control them.
If you start thinking about what you want your loved ones to have from your digital assets after you are gone, you can curate an organized transfer of ownership for the assets that mean the most.
Granting your Power of Attorney (POA) authority to access those assets won’t solve all your POA’s problems gaining access to your digital assets, but they will at least have the authority to do so. These platforms all have service agreements that prevent people other than yourself from logging onto your account. A well-drafted will is certainly going to help your POA after you pass away.
The amount of time that you invest in your digital assets is worth something… perhaps priceless. If you think about the pictures that you have on your social media accounts, those assets may be worth preserving for people who might want them after your death.
It’s important to remember that while the legal world catches up to the technological world, each platform will have different rules for inheriting or shutting down a digital asset.
If you have any questions about your digital assets and including them in your will, McMurter & Associates can help.
This article is intended as an informative piece about the subject. It should not be taken as legal advice. We recommend you connect with a real estate lawyer about your specific legal issue.
McMurter & Associates in Whitby has been providing estate planning services throughout the Durham Region for more than 30 years. We have the experience needed to provide you with expert advice for any of your real estate and estate planning needs.