Are you aware that in today’s increasingly digital world, your Florida estate plan is not just about physical assets like property and bank accounts, it must also account for your digital assets? From online banking and investment accounts to social media profiles and email, many important aspects of your life are now managed digitally. With the rise of cyberattacks and data breaches, protecting these digital assets is more important than ever, especially in a city like Miami where cybersecurity threats are a growing concern.
We know securing your digital legacy requires more than just strong passwords. When you choose, however, to incorporate digital asset protection into your estate plan, you can ensure your online accounts are safeguarded from cyber threats and that your loved ones have access to important information when it is needed. Let us share seven essential tips to help you protect your digital assets from cyberattacks while ensuring they are properly managed in your Florida estate plan.
1. Create a comprehensive inventory of digital assets. The first step in protecting your digital assets is to know what they are. You may want to create a detailed inventory of all your online accounts, including banking, investments, social media, email, and any other digital properties you own. Do not forget to include account numbers, usernames, and passwords for each account. This inventory should be securely stored and regularly updated so that your loved ones can access it if needed.
2. Use strong, unique passwords for each account. One of the simplest ways to protect your digital assets from cyberattacks is by using strong, unique passwords for each of your online accounts. When possible, try to avoid reusing passwords and ensure that each one is a mix of letters, numbers, and symbols. You may want to consider using a password manager to generate and securely store your passwords. This can reduce the risk of cybercriminals accessing multiple accounts through a single breach.
3. Enable two-factor authentication (2FA). Two-factor authentication (2FA) adds an extra layer of security to your online accounts by requiring you to verify your identity with a second form of authentication, such as a text message or email confirmation. When you enable 2FA, you can make it much more difficult for cybercriminals to gain access to your accounts, even if they have your password.
4. Encrypt sensitive information. If you store sensitive information online, such as financial statements or important legal documents, consider encrypting those files to prevent unauthorized access. Encryption ensures that even if your data is hacked, it remains unreadable without the proper decryption key. Be sure to store decryption keys in a safe place where trusted individuals can access them if needed.
5. Include digital asset provisions in your Florida estate plan. To ensure your digital assets are properly managed after your death, you need to include digital asset provisions in your estate plan. This may involve appointing a digital personal representative or trustee who is responsible for managing and distributing your digital assets. When you work with your Florida estate planning attorney, you may draft specific instructions for how you want these assets to be handled, including account closures, access to funds, and control of social media profiles.
6. Educate your loved ones about your digital assets. It is essential that your loved ones are aware of your digital assets and know how to access them if needed. Consider sharing important information about your accounts, including login details and instructions for accessing digital documents. You may want to consider creating a secure file or digital vault that contains this information, and provide access to trusted individuals, such as your trustee or a family member.
7. Work with your Florida estate planning attorney for a comprehensive strategy. To fully safeguard your digital assets, it is beneficial to work with both a cybersecurity expert and an estate planning attorney. A cybersecurity professional can help you implement advanced security measures to protect your digital accounts from threats. Your Florida estate planning attorney can ensure your digital assets are legally accounted for and that your wishes are clearly outlined in your estate plan.
We know this article may raise more questions than it answers. As more aspects of our lives move online, it is essential to include digital assets in your estate planning efforts. In a world of increasing cybersecurity risks, safeguarding your digital legacy is more important than ever, and with the right approach, you can protect your assets for the future. At Perlin Estate Planning & Probate our credentials enable us to provide a multi-disciplinary approach to our legal services. By building relationships with our clients, we are also able to understand each client’s needs and desires, and we support such goals through thoughtful, comprehensive planning techniques. We encourage you to contact us and schedule a meeting.