It’s often said that nothing ever dies on the Internet. While this is usually a warning that what we post online can resurface, it also means our online accounts can outlive us, potentially forever. A digital estate plan that addresses what happens to these accounts after we pass is crucial.
In contemporary estate planning, digital accounts like PayPal, Venmo, and Apple Pay must be considered just as thoroughly as traditional financial accounts. These digital accounts can be closed upon the account holder’s passing, especially if there’s a plan in place. Without such a plan, the process may become more complicated for your loved ones.
Closing a PayPal Account
PayPal is the leading online payment application in the U.S., with three out of four Americans being active users. To close a deceased person’s PayPal account, the authorized administrator or estate executor must provide the following to PayPal’s Deceased Account Team:
- A cover sheet with the primary email address associated with the PayPal account
- The requestor’s email address and a copy of their government-issued ID
- A copy of the account holder’s death certificate
- Legal documentation, such as a copy of the will, identifying the estate executor
Upon receiving this information, PayPal will issue a check or transfer the balance to the deceased customer’s linked bank account and then close or lock the account.
Closing an Apple Pay Account
Apple Pay has quickly become a major player in digital payments. Apple Pay operates through an Apple ID, which is used to access all Apple services. There are three ways to manage a deceased person’s Apple ID and associated data:
- Court Order: This method requires a court order that includes:
- The deceased’s name and Apple ID
- The next of kin’s name requesting access
- Confirmation that the deceased was the user of the Apple ID
- Authorization for the requestor to act on behalf of the deceased
- A mandate for Apple to provide access
- Legacy Contact: A simpler method involves designating a Legacy Contact who can access the account with an access key and a copy of the death certificate. The Legacy Contact can then delete the Apple ID.
- Permanent Deletion Request: A person with an Apple ID and legal documentation can request to delete the deceased person’s Apple ID via Apple’s Digital Legacy – Delete Apple ID page.
Closing a Venmo Account
Venmo has around 80 million users in the U.S. To close a Venmo account, the following steps are necessary:
- For the Venmo Credit Card, fill out a deceased customer notification form provided by Synchrony Bank, including the cardholder’s details and information about the executor or next of kin.
- Contact Venmo support for assistance with the account. You may need to provide a copy of the death certificate and legal documentation authorizing the requestor to act on the deceased’s behalf.
The Venmo support team can be reached at (855) 812-4430 for further assistance.
Avoiding Complications with a Digital Estate Plan
While some companies have clear procedures for accessing or closing accounts of deceased users, others may require direct contact. A digital estate plan containing account login credentials can expedite the process. This information can be stored in a password manager or a secure digital or physical document.
Family members should know how to access these login credentials, and the plan should be regularly updated to reflect any changes. Also, include any additional access information, such as PINs or two-factor authentication details.
A digital estate plan should specify if any online payment accounts are linked to recurring bills, so automatic payments can be canceled. It should also outline how to transfer any positive balance or ownership of the accounts to an heir, if desired.
In summary, a comprehensive digital estate plan should list all devices and online accounts, instructions for accessing them, and steps for settling each account. Whether you want your accounts accessed or deleted after your passing, ensure everything is detailed clearly through consultation with an estate planning attorney.
Most states have adopted rules governing how an executor, agent, or trustee can access a person’s online accounts upon their passing or incapacitation. To manage your digital estate in line with your wishes and the law, contact our office to schedule a meeting.
