Digital Assets and Estate Planning: What Happens to Your Online Accounts When You Die?

What Counts as a Digital Asset?

A digital asset includes anything you access or control online, such as:

• Email and social media accounts.
• Cloud storage (Google Drive, Dropbox).
• Streaming subscriptions.
• Internet banking profiles and mobile wallet apps.
• Cryptocurrency wallets and NFTs.

Even data held by South African government portals (like SARS eFiling or your medical scheme app) forms part of your digital footprint, and must be accounted for in your estate.

Why Digital Assets Must Be Part of Your Estate Plan

When you exclude digital assets, you risk:

• Permanent loss of important files, photos, or emails.
• Locked funds in digital wallets or trading apps.
• Misunderstandings or legal disputes over who has the authority to act.
• Sensitive data being misused or deleted.

Including digital assets in your estate plan ensures these accounts are handled in a way that reflects your wishes, and prevents avoidable complications for your loved ones.

What Happens to Your Online Accounts After Death?

Each online platform has its own policy:

• Facebook offers account memorialisation.
• Google allows you to assign an Inactive Account Manager.
• Many South African services simply lock or delete the account due to inactivity.
• Some providers (especially banks or crypto exchanges) require court documents for access.

Without documented instructions and proper authorisation, your family may lose access entirely.

Passwords and Two-Factor Authentication (2FA)

Leaving behind a password list isn't enough.

• Most platforms today use 2FA, which requires a secondary device (like your phone or email).
• If your device is locked or wiped, access becomes nearly impossible, even with your password.

This is why Life Vault supports storing login credentials helping your executor or trusted person navigate these barriers.

Appointing a Digital Executor

Just like you appoint an executor for your physical estate, you can name someone to manage your digital legacy. This digital executor should be:

• Technologically confident.
• Trusted and discreet.
• Given legal authority via your Will or estate plan.

Their tasks may include closing accounts, retrieving sentimental data, or carrying out specific requests (like deleting or archiving content).

How to Document Your Digital Assets Effectively

Here's a basic plan:

1. Create a digital inventory: List all key accounts, login emails, and associated platforms.
2. Add instructions: State what you want done with each account, preserved, deleted, or transferred.
3. Avoid listing passwords in your Will: Use a secure storage platform like Life Vault instead.
4. Keep it updated: Your online footprint changes regularly — revisit your plan annually or after major life events.

Legal Considerations in South Africa

South African law currently does not have specific provisions for digital estates.

This means:

• Most service providers rely on international privacy policies.
• Executors may need court orders to access certain platforms.
• Without clear instructions, access may be denied.

To strengthen your digital estate plan:

• Include digital instructions in your Will.
• Nominate a digital executor.
• Use secure tools like Life Vault to organise and safeguard data.

Using Life Vault to Secure Your Digital Legacy

Life Vault helps South Africans:

• Store passwords, digital asset instructions, and important files securely.
• Assign Approved Persons to access specific categories — only when permitted
• Maintain updated records with version history.
• Consolidate your physical and digital estate in one trusted platform.

With bank-level encryption and security, Life Vault empowers you to take full control of your digital life, before it's too late.

Don't Let Your Digital Life Disappear

Without proper planning, your digital presence could vanish, leaving your family in a mess of confusion, legal hurdles, and lost memories. Including digital assets in your estate plan ensures that your online world is as protected and purposeful as everything else you leave behind.

Start today and let Life Vault help you document, store, and share your digital legacy the smart way.