As more of our lives move online, digital assets—from cryptocurrency wallets to cloud-stored family photos—are becoming a key part of estate planning. But while some assets can and should be protected in a trust, others raise serious concerns when mishandled. In fact, there are specific types of online holdings trusts experts say should never share digital assets with certain parties or platforms due to privacy risks, legal complications, or long-term access issues. Making the wrong move with digital property could unintentionally lock out your heirs or expose sensitive information. Here are five digital assets that experts warn should never be casually shared or placed in the wrong hands.
1. Password Vaults and Authentication Tools
One of the most common mistakes families make is storing login credentials inside a trust document or sharing them without understanding the consequences. Password managers and multi-factor authentication apps are deeply personal tools tied to specific devices or users. If access is shared improperly or placed into a public-facing trust, it can expose your entire digital footprint. Trusts experts say should never share digital assets like these because unauthorized access—even by a well-meaning family member—can trigger security alerts or lockouts. Instead, experts recommend leaving clear instructions on how to access these tools, but never storing the passwords themselves in a shared trust document.
2. Streaming Service Accounts
It might seem harmless to leave your Netflix or Spotify account behind for your kids or spouse, but many digital service providers strictly prohibit account transfers. Legally, these accounts are licenses, not owned assets, which means they can’t be passed on through a will or trust. Sharing access or placing them in a trust may violate terms of service, resulting in the account being permanently suspended. Trusts experts say should never share digital assets like entertainment subscriptions because they can become legal gray areas and aren’t considered transferrable property. Instead of including them in your estate plan, plan to close them or let them expire.
3. Social Media Profiles
Social media accounts are deeply personal, and what happens to them after death can be both emotional and legally complicated. Facebook, Instagram, and other platforms each have their own policies for memorialization or deletion, and trusts cannot override these platform-specific rules. Including your social media profiles in a trust may lead to confusion or conflicts between family members. Some platforms require that you assign a legacy contact or follow an in-app process to manage your profile after death. That’s why trusts experts say should never share digital assets like social media credentials in estate documents without checking each platform’s specific process.
4. Cloud Storage Accounts Without Ownership Rights
Storing family photos, legal documents, or business files in the cloud can be useful, but if you don’t own the account outright, passing it through a trust can get complicated. Many cloud providers have restrictive terms of service that don’t allow account access to third parties—even with a will or trust in place. In some cases, access dies with the original account holder. This is why trusts experts say should never share digital assets like Google Drive or iCloud accounts unless they’re backed up somewhere accessible and legally transferrable. Experts suggest copying vital files to a secure, shared archive rather than relying solely on private cloud services.
5. Cryptocurrency Stored on Personal Devices
Digital currencies are among the most high-risk assets when it comes to estate planning. If cryptocurrency is stored on a hardware wallet or a phone app, and no one else has the private keys or recovery phrase, that money can be lost forever. Trusts experts say should never share digital assets like these directly through a trust without extremely clear instructions and secure storage. Placing crypto in a trust is possible, but only if done properly with help from a financial advisor familiar with blockchain technology. Simply writing down a password or leaving vague instructions can cost your heirs thousands—or more.
When Privacy, Access, and Ownership Clash
In today’s world, not every valuable asset is physical—and not all digital assets should be shared or passed down without planning. The digital items trusts experts say should never share digital assets often fall into legal or technical gray areas that can complicate even the most carefully crafted estate plans. Protecting your family means knowing what can be shared, what needs to stay private, and what requires its own plan outside of a traditional trust. The best thing you can do is document your wishes clearly, stay updated on platform policies, and get professional advice. Your digital legacy matters just as much as your financial one.
Have you started organizing your digital assets for your estate plan? What questions do you have about protecting them? Join the conversation in the comments.
Read More:
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The post What Trusts Experts Say Should Never Share Digital Assets appeared first on The Free Financial Advisor.
