- (224) 404-3302
- 11 N. Northwest Hwy., Suite 129, Park Ridge, IL 60068
Protect Your Online Accounts, Cryptocurrency, and Digital Property | Ensure Your Digital Life Is Not Lost | Free 15-Minute Consultation
Digital asset planning ensures your online accounts, cryptocurrency, digital files, and virtual property are protected and accessible to your loved ones after you pass away or become incapacitated. Without proper planning, your family may be locked out of important accounts, lose access to valuable digital assets, or be unable to manage your online presence during a crisis.
At Dracheva Law, we help Park Ridge families create comprehensive plans for their digital lives. We address everything from social media accounts and email to cryptocurrency holdings and online businesses, ensuring nothing is lost and your wishes for your digital legacy are honored.
Comprehensive documentation of all your digital accounts, online subscriptions, and virtual property so your family knows what exists and where to find it
Planning for online businesses, websites, domain names, and e-commerce operations so they can continue or be properly wound down
Secure documentation and transfer strategies for Bitcoin, Ethereum, and other digital currencies, ensuring these assets are not lost forever
Instructions for memorializing, archiving, or deleting social media accounts according to your wishes after you pass away
Legal authorization and practical instructions for your fiduciary to access email, social media, cloud storage, and other password-protected accounts
Secure systems for storing and transmitting login credentials and access information to your trusted fiduciaries
Your digital life is just as important as your physical assets. We understand modern technology and create plans that address the full scope of your online presence, from everyday accounts to complex cryptocurrency holdings.
Simply sharing passwords is not enough. Illinois law and federal regulations restrict access to digital accounts. We create legally enforceable documents that authorize your fiduciary to access and manage your digital assets under the Revised Uniform Fiduciary Access to Digital Assets Act.
Digital asset planning is not a separate project. We integrate your digital asset instructions with your will, trust, and powers of attorney so everything works together seamlessly and your fiduciary has clear authority to act.
We help you create a comprehensive inventory of your digital accounts, online subscriptions, cryptocurrency holdings, and other virtual property.
We develop secure methods for storing and transmitting login credentials and access instructions to your trusted fiduciaries when needed.
We prepare powers of attorney and trust provisions that specifically authorize digital asset access under Illinois law and the federal RUFADAA framework.
We integrate your digital asset plan with your overall estate plan and provide clear instructions for your fiduciary on managing each type of digital asset.
If you own Bitcoin, Ethereum, or other digital currencies, proper planning is essential. Without access to your private keys or wallet credentials, these assets can be lost forever.
If your work involves digital files, cloud storage, client portals, or online platforms, your family or business partners need access to continue operations or wind down properly.
If you run an online business, sell on e-commerce platforms, or own valuable domain names, you need a succession plan that allows your business to continue or be properly sold.
If you manage bank accounts, investments, or bill payments online, your fiduciary needs access to these accounts to manage your finances if you become incapacitated or pass away.
If you have a significant social media presence, valuable digital photos, or online content you have created, you should specify what happens to these accounts and files after you pass away.
If your photos, videos, and family memories are stored in the cloud or on digital devices, planning ensures these irreplaceable files are preserved and accessible to your loved ones.
Digital assets include any online account or electronically stored property. Common examples include email accounts, social media profiles, cloud storage files, digital photos and videos, cryptocurrency and NFTs, online banking and investment accounts, loyalty program points, domain names and websites, digital music and media libraries, online business accounts, and subscription services. Essentially, if it exists online or requires a password to access, it is a digital asset that should be addressed in your estate plan.
Without proper planning, your online accounts may be permanently locked, deleted by the service provider after inactivity, or inaccessible to your family. Each platform has different policies. Some allow legacy contacts or inactive account managers. Others delete accounts automatically. Many require court orders for family access. Digital asset planning ensures your family has legal authority and practical instructions to access accounts according to your wishes.
Cryptocurrency requires special planning because these assets exist only as digital records secured by private keys. If your family cannot access your private keys, wallet passwords, or seed phrases, the cryptocurrency is lost forever, regardless of its value. We help you create secure documentation systems that protect this information during your lifetime while ensuring your fiduciary can access it when needed.
Simply writing passwords on paper creates security risks. We help you implement secure systems for documenting and storing access credentials, such as encrypted password managers, secure physical storage, or combination approaches. The goal is balancing security during your lifetime with accessibility for your fiduciary when needed. We also address how to keep this information updated as passwords change.
Not automatically. Federal law and service provider terms often restrict account access, even for executors. Illinois has adopted the Revised Uniform Fiduciary Access to Digital Assets Act, which provides a legal framework for fiduciary access. However, your estate planning documents must specifically authorize digital asset access, and your fiduciary must follow proper procedures. We ensure your documents include the necessary authorizations.
Digital asset planning is incorporated into your comprehensive estate plan through several mechanisms. Your power of attorney includes specific authority for digital asset access during incapacity. Your will or trust addresses digital asset distribution. A separate digital asset memorandum provides detailed inventory and access instructions. Together, these documents give your fiduciary clear legal authority and practical guidance for managing your entire digital life.
Secure the deceased’s property and valuables, locate the trust document and death certificates, notify key parties like banks and insurance companies, and contact the estate planning attorney. Don’t distribute assets or pay debts with personal funds until you understand your legal obligations. We can guide you through these critical first steps.
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Don’t navigate probate alone. Let us handle the legal complexity while you focus on your family.
Dracheva Law, LLC
11 N. Northwest Hwy., Suite 129
Park Ridge, IL 60068
Phone: (224) 404-3302
Email: info@drachevalaw.com
Serving:
Park Ridge, Des Plaines, Niles, Arlington Heights, Mount Prospect, Glenview, Skokie, and all of Cook County
