How To Create A Plan For Digital Assets In Your Illinois Estate

The way we store wealth, memories, and business records has changed. Bank statements sit in email inboxes. Family photos live in cloud storage. Investment accounts, cryptocurrency, and even loyalty points exist online rather than in a file cabinet. When someone becomes incapacitated or passes away, these digital assets can be overlooked, lost, or locked behind passwords.

Our firm works with many clients in DuPage County who assume a will or trust automatically covers everything. Digital property raises special issues of access, privacy laws, and service-provider restrictions that must be addressed directly. A clear plan avoids confusion, protects families, and ensures that online accounts are handled in accordance with Illinois law.

What Counts As A Digital Asset

Digital assets are more than social media profiles. They include:

• Online bank and investment accounts.
• Retirement accounts with online access portals.
• Email accounts.
• Subscription services and cloud storage.
• Digital photos and videos.
• Domain names and websites.
• Cryptocurrency and digital wallets.
• Seller platforms and online businesses.
• Rewards programs and airline miles.

Illinois law treats many of these assets as property, but access is controlled by both estate planning documents and federal privacy laws. Without planning, loved ones may not be able to legally access accounts even if they know the passwords.

Illinois Law Governing Access To Digital Assets

Illinois adopted the Revised Uniform Fiduciary Access to Digital Assets Act, codified at 755 ILCS 70. This statute gives executors, trustees, agents under powers of attorney, and guardians limited authority to access digital assets, provided the individual has given proper consent. Service provider terms-of-service agreements also matter. A will or trust must clearly grant authority to access electronic communications and digital property so that fiduciaries act within the law.

Using A Will, Trust, And Power Of Attorney

Digital planning works best when coordinated across multiple documents. In a will, I can grant a personal representative authority to manage digital property after death, consistent with 755 ILCS 70. In a revocable living trust, I can authorize a successor trustee to control digital business accounts, websites, or investment platforms. A durable power of attorney for property, authorized under 755 ILCS 45/2-1, can allow an agent to handle digital assets during lifetime incapacity. Without these express grants, companies often refuse access, and families face long delays.

Creating A Digital Asset Inventory

Listing digital property is one of the most practical steps. An inventory should identify:

• Each account or platform.
• Username or identifying information.
• The nature of the asset.
• Where credentials are stored.

Passwords should not be written directly into the will since a will becomes a public document when probated. Instead, many clients store credentials securely using a password manager or a separate memorandum kept with estate papers. The key is ensuring fiduciaries know where to find the access instructions.

Privacy, Security, And Beneficiary Intent

Digital assets hold financial and sentimental value, but they also contain private communications. Illinois law and federal privacy statutes restrict unauthorized access. Estate documents can express whether email content may be accessed, whether accounts should be deleted or memorialized, and who should receive copies of digital photographs or business data. Clear instructions help avoid family disputes and protect privacy rights.

Updating Digital Plans Regularly

Technology changes faster than traditional property. New platforms emerge, and people regularly open or close accounts. For that reason, digital planning is not a one-time exercise. Periodic review of inventories and estate documents ensures everything remains current and consistent with Illinois law and account-provider policies.

Frequently Asked Questions

What Is Considered A Digital Asset In An Illinois Estate Plan?

A digital asset includes any electronic record or account, such as online banking, investment platforms, cryptocurrency, email, social media, digital photos, domain names, streaming accounts, and cloud storage. These assets require specific authorization for fiduciaries to access and manage them after death or incapacity.

Why Is A Digital Asset Plan Necessary If I Already Have A Will Or Trust?

Traditional estate documents distribute property but do not automatically grant lawful access to electronic records. Illinois law requires explicit consent for fiduciaries to access certain content and accounts. Without this consent, service providers may refuse access even to an executor or trustee.

What Illinois Law Governs Access To Digital Assets?

Illinois uses the Revised Uniform Fiduciary Access to Digital Assets Act under 755 ILCS 70/1. This statute explains how executors, trustees, guardians, and agents can legally access digital information when authorized in estate planning documents.

How Can Someone Grant Access To Digital Assets Legally?

Access can be granted in a will, trust, and durable power of attorney that specifically addresses digital assets pursuant to 755 ILCS 70. The documents should identify fiduciaries and give consent to access, manage, or close accounts consistent with provider policies and privacy rules.

Are Passwords Included In A Will?

Passwords should not be listed in a will because wills become public records during probate. Instead, people often use secure password managers or written inventories kept privately. The estate plan should specify where the credentials can be safely stored.

Do Digital Assets Pass Directly To Beneficiaries?

Some do, depending on platform policies. Others require access by an executor or trustee. Cryptocurrency, websites, or online businesses often need fiduciary management. Clear instructions within a will or trust determine how those assets are distributed.

What Happens If Digital Assets Are Not Planned For At All?

Accounts may be lost, inaccessible, or frozen. Family members may violate federal or state law by trying to log in without authorization. Important financial records, photos, or business data can disappear. A digital estate plan prevents these problems.

Can An Agent Under A Power Of Attorney Handle Digital Property During The Lifetime?

Yes, if the power of attorney includes digital authorization under 755 ILCS 45/2-1. Without this authority, institutions may refuse to communicate with the agent or allow account access.

Call Keller Law Group, LLC For Guidance On Digital Estate Planning

Digital assets are now a core part of modern estates, and careful planning ensures they are preserved and transferred correctly. A customized plan protects both financial value and personal privacy.

To discuss creating or updating an estate plan that includes digital assets, contact our Chicago estate planning attorney at Keller Law Group by calling 630-868-3093 to receive an initial consultation. The firm represents clients in Chicago and throughout Illinois and is prepared to help put effective legal protections in place for the future.