Dealing with death and managing the estate of the people we love are two things most of us hate to think about. However, having a will in place is one way to ensure those you love, and the things you hold dear, are treated the way you wish them to be after your passing. But a will can do much more than list the details of what money goes to whom. In fact, these days, a will should include social media, digital assets, and pets.
Thanks to the rise of the digital economy and social media, there are many things to consider including in your will to ensure a smooth changeover of assets you may have forgotten existed.
For example, when it comes to Facebook, do you want your account closed or memorialised after your passing? Do you have a Facebook store or business page that will need to be managed? Keeping this in mind it’s worth stipulating what you want to happen to your digital presence after the fact, or set up a ‘Legacy contact’ in Facebook. A ‘Legacy contact’ is the person who can access your account and carry out your wishes in the event that the worst occurs.
Furthermore, do you have a Pay Pal account? A Bitcoin balance? Investments in Acorns? An eBay store? If any of these accounts are of value, or hold money in them, then you need to stipulate what happens to those accounts, such as who will have access to them and whether they should be closed or deleted after your passing.
In the event of a photographer or blogger’s death, their writing or images can be a type of intellectual property, and as such, you need to explain how these properties can be used.
The second thing you should cover in your will is your pets! These beloved best friends and furry mischief-makers can’t go on without their devoted owners, and as such you should extensively cover what you want to happen to your animals, who should care for them, and if there are any funds dedicated to the wellbeing and ongoing care of your pets. Otherwise, pets of deceased persons may end up in rescue centres, where they rely on the goodwill of strangers to provide them with a forever home.
You might also like: