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You probably have a Will in place, but are you also protecting your digital assets?
I don’t mean to get all bah-humbug on you before the Christmas festivities kick in, but this is an important part of your legacy planning and certainly something you should consider for 2024.
As an individual and a small business owner, you’d be surprised how much of our ‘every day’ is lived online. 20 years ago the only online asset we had was probably a single password to an email account. Today, we have a mix of data, content, finances, and cherished memories. You may well have drawn up a Will to take financial care of your loved ones, but who can access your social media accounts once you’ve gone?
· Do you have a Facebook or Instagram account?
· Do you upload photos and look back at your memories?
· Have you nominated a legacy contact?
If you’ve answered, Yes, Yes and No, then you should really consider choosing someone to look after your profile if you want it to be memorialised. A legacy contact can keep your profile alive by sharing pictures, changing profile and cover photos and accepting friend requests from the people who knew you and still want to remember you.
How to set up a Legacy Contact
There are different ways of setting this up for different devices, but it is far simpler to do with from your mobile device than your PC.
Mobile Legacy Contact Set-up Instructions:
From your main profile, click your profile photo in the top right of Facebook.
Select Settings and privacy, then click Settings.
Below General profile settings, click Memorialisation settings.
Type in a friend's name in Choose a friend and click Add.
To let your friend know they're now your legacy contact, click Send.
If the Memorialisation settings option doesn't show – Type Memorialisation into the search bar to following the screen instructions as shown here:
To change or remove a legacy contact, follow steps 1-3 above, then click Remove. From there, you can add a new legacy contact if you'd like.
If your main profile is memorialised, your legacy contact will be notified. Learn more about what a legacy contact can do.
Once you have successfully set this up, you should seriously consider adding a digital asset instruction to your Will. Include who should be granted access and how your accounts should be managed and protected according to your wishes. Without clear instructions and passwords, it will be virtually impossible for your loved ones to deal with any digital assets.
Other digital assets to consider:
Email accounts/Domain names/Business ownership
*Online banking/Investment access/Cryptocurrency
Online shopping/Rewards/Loyalty cards
Digital photos/Videos/Art/iTunes/NetFlix/Prime Video
Insurance policies
Subscriptions
*Whilst your loved ones will eventually be able to access your finances through high street branches with the right paperwork, online accounts like Monzo, Metro, Starling and others will require your login details, so this is a very important part of any digital asset plan.
Leaving behind your small business
Remember to consult with legal and financial professionals who can provide advice tailored to your specific situation. Planning for the future of your online business is an important part of ensuring your legacy continues in a way that you desire. If you want your business to continue operating after your passing, choose a successor who is capable and willing to take over the reins. Provide training or mentoring to prepare them for the role if you can. Also, make provisions for the renewal of domain names, hosting services, and any other subscriptions that are crucial to the functioning of your online business.
If you would like to find out more about setting up legacy contacts for your social media accounts or would like me to set it up on your behalf, then please contact me today.
Remember, if social media strategy and implementation is still outstanding on your 2023 job’s list and you’d like to smash your social media goals for 2024, let’s book in a discovery call and fast track your social success.
Now, it just leaves me to wish you all a very Merry Christmas and a happy and healthy New Year and to thank you for your continued support.
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