- An estate trustee already has legal authority to deal with your property, digital or not.
- - [ ] Financial accounts that are online-only, with no paper statements at all - [ ] Email accounts, especially the one used to reset other passwords - [ ] Cryptocurrency wallets and…
- Never write passwords, seed phrases, or PINs directly into your will.
Most Ontario wills were designed for a world of paper statements and branch visits. Today, a meaningful share of what you own — financial accounts, subscriptions, photos, maybe even a business — may exist only behind a login screen. A digital asset inventory is one of the most practical things you can add to an estate plan to make sure none of it gets lost.
An inventory is not a legal document in itself. It is a working list, kept separately from your will, that turns a guessing game for your estate trustee into a checklist.
Why an Inventory Matters More Than People Think
An estate trustee already has legal authority to deal with your property, digital or not. What they usually lack is knowledge — of what exists, where it is held, and how to get in. An inventory does not change anyone’s legal rights; it simply removes the guesswork at the worst possible time to be guessing.
What to Include
- [ ] Financial accounts that are online-only, with no paper statements at all
- [ ] Email accounts, especially the one used to reset other passwords
- [ ] Cryptocurrency wallets and exchange accounts
- [ ] Cloud storage — photos, documents, backups
- [ ] Social media and messaging accounts
- [ ] Domain names, websites, and online stores
- [ ] Subscriptions and recurring payments
- [ ] Loyalty points, rewards, and travel miles with real cash value
- [ ] Password manager master credentials, if you use one
You do not need every password memorized in the list itself. For many categories, simply noting that the account exists and where the credentials are stored is enough.
Where Not to Put It: Keep It Out of the Will
Never write passwords, seed phrases, or PINs directly into your will. Once a will is filed with the court as part of a probate application, it typically becomes part of the public court record — the opposite of what you want for sensitive access information. The inventory should live somewhere separate that your estate trustee can be pointed toward.
Storage Options Compared
| Method | Strength | Watch-out |
|---|---|---|
| Password manager with emergency access | Stays current automatically; some tools let a trusted contact request access after a waiting period | Only works if your estate trustee knows it exists and how to request access |
| Sealed document with your lawyer | Kept private and professionally secured | Needs updating whenever accounts change |
| Safety deposit box | Physically secure | Can be slower to reach immediately after death |
| Written list kept at home | Simple, no technology needed | Easy to lose track of, and physically vulnerable |
Most people are best served by combining two of these — for example, a password manager for day-to-day accuracy, plus a note with your lawyer or in your safety deposit box confirming it exists and how to reach it.
Keeping It Useful Over Time
An inventory that is years out of date can be more misleading than no inventory at all. Build a habit of updating it whenever you open, close, or meaningfully change an account — a new bank, a new crypto exchange, a closed social media profile — rather than treating it as a one-time task.
Handing It Off Responsibly
Your estate trustee does not need full access today. They need to know the inventory exists, roughly what it covers, and how to reach it once they have been formally appointed. Telling them "there is a plan, and here is how to find it" is often more useful than handing over sensitive details while you are alive and well.
Frequently asked questions
Should my executor have my passwords right now, while I am alive?
Not necessarily. Most people prefer to keep current passwords private and instead give their estate trustee a way to find the information after death — through a password manager’s emergency access feature, a lawyer, or a sealed document.
Can I just leave a printed list of everything with my will?
You can, but keep it as a separate document your estate trustee is directed to, not part of the will itself, since the will can become part of the public court record on probate.
Do I need to list every single subscription and account?
Focus on anything with financial value, ongoing cost, or sentimental content, like photos or personal writing. A forgotten streaming subscription is a minor inconvenience; a forgotten investment account or crypto wallet is a real loss.
What if I do not use a password manager?
A password manager is not required. A well-organized written list, securely stored and referenced in your estate planning documents, accomplishes much of the same goal, just with more manual upkeep.
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