Social media influencers have unique estate planning needs, particularly when it comes to managing their online presence after death. With platforms ranging from Instagram and YouTube to TikTok and Twitch, influencers not only leave behind a digital footprint but also valuable assets that can continue to generate income. At Allenby Law, we specialize in crafting estate plans that address both the personal and professional aspects of managing a digital legacy. Here’s how influencers can ensure their online presence is protected and handled according to their wishes.
The Importance of Including Digital Assets in Your Estate Plan
For influencers, digital assets include social media accounts, blogs, websites, and any associated revenue streams like sponsored content or merchandise sales. These assets are part of your professional legacy and require careful planning to manage effectively after your passing.
Key Steps for Influencers in Estate Planning
- Inventory Your Digital Assets: List all your social media accounts, websites, and other platforms where you have a presence or income. Include details like usernames, passwords, and information on how each platform is monetized.
- Appoint a Digital Executor: Choose a trusted individual who understands the social media landscape and is capable of managing your accounts after your death. This role can involve anything from archiving your accounts, maintaining them as a memorial, or continuing to post content.
- Decide on the Future of Your Platforms: Clearly outline what should happen to your accounts. You might want certain profiles to be deleted, others to be preserved as a memorial, or even for content to continue being posted to maintain revenue streams. Specific instructions will help ensure your wishes are carried out.
- Understand Platform Policies: Each social media platform has its own policies regarding the death of a user. Some allow the account to be memorialized (like Facebook), while others might automatically delete inactive accounts after a certain period. Knowing these policies can help you plan effectively.
- Legal and Financial Considerations: Ensure your estate plan includes guidance on handling any income generated from online activities. This might involve transferring revenue to beneficiaries, setting up trusts, or making charitable donations.
- Secure Access: Use secure methods to store access information that your digital executor will need. Tools like password managers that offer emergency access can be valuable here.
- Communicate Your Plans: Discuss your estate planning decisions with your family, the designated executor, and possibly your audience, if appropriate. Transparency will ease the transition and help manage expectations.
Legal and Ethical Considerations
- Intellectual Property: Consider the intellectual property rights associated with your content. Specify who owns these rights after your death and how they can be used.
- Privacy: Balance your privacy and wishes with the public nature of your role as an influencer. Decide how much you want to share about the future of your channels in your public content.
- Contracts and Agreements: Review any existing contracts with sponsors or platforms to understand how your death might affect these agreements.
Estate planning for social media influencers is crucial to ensure that your digital legacy is handled according to your wishes. It requires consideration of both your personal desires and the legal aspects of managing digital assets. At Allenby Law, we understand the unique challenges influencers face and offer expert guidance to help you protect and manage your online presence even after you are gone. Contact us today to start planning your digital legacy.
