In today’s digital age, estate planning is no longer just about who gets the house or the retirement account. One of the most important—and often overlooked—areas of modern estate planning in Illinois involves digital assets.
What Are Digital Assets?
Digital assets include everything from online banking accounts, email and social media profiles, to cryptocurrencies, digital photos, subscription services, and cloud storage. Without a proper plan, these assets can become inaccessible—or even lost—after someone’s death or incapacity.
Why It Matters in Illinois
Illinois has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which gives fiduciaries limited access to digital assets, but only under specific conditions. A properly drafted will, trust, or power of attorney must explicitly grant authority to manage digital assets. Without it, even close family members may face legal roadblocks when trying to access important digital information.
Key Tips for Protecting Your Digital Legacy
1. Create a Digital Asset Inventory
Make a secure list of all digital accounts, including login credentials, and store it where your executor or trustee can access it (such as a password manager).
2. Update Your Estate Planning Documents
Include express language authorizing your executor, trustee, or agent under power of attorney to access and manage your digital assets.
3. Use Online Tools Where Available
Some platforms, like Google and Facebook, allow users to name a legacy contact or inactive account manager. These tools often override instructions in a will or trust.
4. Talk With Your Estate Planning Attorney
A professional can help you stay compliant with Illinois law and ensure your digital and traditional assets are protected.
Final Thought
Digital estate planning is no longer optional—it’s essential. As Illinois law continues to evolve, so should your estate plan. Make sure you’re covered by consulting with an estate planning attorney who understands both traditional and digital asset protection.