Dear Friend,

Today, I want to share a story with you about a family I once worked with. I’ll call them the Johnsons to protect their privacy. They came to me after their father, Bill, had passed away suddenly. While he’d always been careful with his finances, he never left a clear roadmap for his family. Bill had multiple bank accounts, a few online investment platforms, and digital assets, but there was no list, no document, and no record of where everything was or how to access it. The family knew some accounts existed, but they didn’t know the details or even where to start.

The Johnsons found themselves scrambling, trying to track down all of Bill’s assets while also grieving his loss. They had to dig through old files, piece together bits of information from emails, and reach out to every bank or financial institution they could think of. They spent months chasing down leads—often hitting dead ends. Some accounts remained a mystery. They also didn’t have login details for any of Bill’s online accounts, which meant some of his digital assets were essentially lost. It was an emotional and financial burden that could have been avoided.

What makes this situation even more frustrating is that Bill wasn’t trying to hide anything from his family. He simply hadn’t thought about what would happen if no one could find or access these accounts after he was gone. And he’s not alone. Many people overlook their digital lives when creating an estate plan, not realizing that bank accounts, online investments, and even digital photos or social media accounts need to be managed after they pass.

What Happens When There’s No Digital Roadmap?

Without a clear inventory of your assets—both physical and digital—your loved ones can be left with a massive headache. Your family is already dealing with the loss, and now they’re faced with the added stress of trying to locate and unlock hidden accounts, often with no clue where to look. Some assets may be discovered months or even years later, while others may remain unclaimed forever. This can mean missed financial opportunities for your heirs, as well as the emotional toll of handling these loose ends.

In Bill’s case, the Johnson family spent countless hours tracking down his accounts and dealing with unnecessary legal paperwork. The heartache and frustration of not knowing where everything was—and the real risk of losing a portion of their inheritance—was something they could have done without.

The Importance of a Digital Roadmap

This is why it’s so important to create a digital roadmap as part of your estate plan. A digital roadmap is essentially a list of your bank accounts, online investments, and digital assets (like cryptocurrency or PayPal), along with login information, so that your family knows what you have and how to access it. Keeping an updated inventory of all your assets not only saves your loved ones time and stress but also ensures that nothing slips through the cracks.

Here’s what you should include in your digital roadmap:

  • A list of all bank accounts (both personal and joint accounts), investment platforms, and any other financial institutions where you hold assets.
  • Any online accounts (like PayPal, Venmo, or cryptocurrency wallets) that contain financial assets.
  • Login information for digital assets like cloud storage, email accounts, and social media profiles.
  • A list of subscriptions or memberships that may need to be canceled or managed after you pass.
  • Information on how you’d like your social media accounts handled after you’re gone (e.g., memorializing or deleting accounts).

This roadmap doesn’t have to be complicated, but it does need to be updated regularly. At Bascom Law, we help our clients create this roadmap as part of their comprehensive estate plan. This ensures nothing is left unclaimed so that your loved ones don’t have to struggle through months of paperwork and unanswered questions.

You’ve worked hard for everything you’ve built. Don’t let a lack of planning cause unnecessary stress for your family or result in lost assets. Call us today at 770-285-5493 to schedule a consultation, and let’s make sure your estate plan includes everything—down to the last bank account and digital login.

Sincerely and Thanks,

Mike

Mike Bascom
Bascom Law, PC
Estate Planning & Elder Law