Edition No. 8

In today’s world, we all have many things stored on our computers, phones, and online. These can be our pictures, emails, or even virtual coins called cryptocurrency. But what happens to these things when we are no longer around? Continue reading to understand how you can make sure that your digital assets are safe and taken care of when you are gone.

Inventory Your Digital Assets: From Photos to Passwords

First, let’s think about everything you have that’s digital. Here’s a way to remember:

1. Pictures and Videos: These are special memories. Maybe you have them on a site like Facebook, Instagram, iCloud, other online storage, or saved on your computer.
2. Emails and Social Media: Accounts like Gmail, Facebook, or Twitter where you chat and share with friends.
3. Online Banking and Shopping: Websites where you might buy things or look at your bank account. Don’t forget rewards programs like Shopkick, Upside, or many others.
4. Virtual Coins: This is a newer thing. It’s like having a secret type of money online.
5. Passwords: The secret codes that keep your digital assets safe.

Once you know all the things you have, make a list. This will help others know what you have if you are not there.

Digital Estate Management Tools and Solutions

Now, let’s talk about tools that can help. There are special websites and programs that can keep all your digital assets safe and also let someone you trust use them if you can’t. Some of these tools are:

1. Digital Vault: This is like a safe on the internet where you can keep all your passwords and important information. There are many options available, be sure to do your research and keep an eye out for safeguards. 
2. Legacy Contacts: Some websites, like Facebook, allow you to pick a friend or family member to manage your account if something happens to you.

Legal Implications and Protections for Digital Assets

This part is a little tricky. It’s about the rules that say who can use your digital assets if you are not around. Just like you have a will for your toys or house, you need one for your digital assets too. In preparing your estate plan, an experienced estate planning attorney can help you plan for the handling, not only your physical assets but also your digital assets.

Sharing Access: Balancing Security and Accessibility

You might be thinking, “I want to keep my stuff safe but also want someone to use it if needed.” It’s like locking your house but giving a key to a friend just in case. Here’s how you can do it:

1. Share Passwords Carefully: Only tell your passwords to someone you trust a lot. And keep them in a safe place.
2. Use Two-Step Verification: This is like a double lock. It means you need two things to open something, maybe a password and a message on your phone. It’s super safe!
3. Talk with your family: Let them know about your digital things and how to use them safely.
4. Make a list for your Will: Make a list of your digital assets and place them with your original Will. When someone needs it, the right person will have access.

Living in a digital world is fun and exciting! But just like we plan for what will happen with our physical stuff at our death, we should also plan for and address what happens with our digital stuff. Talk to your family, make a list, and even speak to a lawyer. Keep your digital memories and treasures safe for the future!