While your wishes may conflict with some companies' terms of service, it's still valuable to your Executor to know what your wishes are.ĭo any of the assets have monetary value? If so, you may want to instruct your Executor to handle those assets in a specific way. For each digital account or asset that you have, specify how you'd like your Digital Executor to handle that asset. While you may want some assets to be archived and saved, you may want others to be deleted or erased, while others should be transferred to family members, friends, or business colleagues. How should each asset be handled? Depending on the nature of the property, the way you want different types of digital property managed may vary. Decide What You Want Done With These Assets Intellectual property, including copyrighted materials, trademarks, and any code you may have written and ownĢ.Any online accounts, such as email and communications accounts, social media accounts, shopping accounts, photo and video sharing accounts, video gaming accounts, online storage accounts, and websites and blogs that you may manage.Any information or data that is stored electronically, whether online, in the cloud, or on a physical device.Computing hardware, such as computers, external hard drives or flash drives, tablets, smartphones, digital music players, e-readers, digital cameras, and other digital devices.In brief, your digital assets may include: To be thorough in your inventory, you might want to refer to our article on digital property, which outlines different types of digital assets you may own. What digital assets do you own? Make a list of your digital assets, including everything from hardware to social media accounts to online banking accounts to home utilities that you manage online. Make A List Of All Your Digital Assets And How To Access Each One If your executor or personal representative doesn’t have the private key or know how to access it when you pass away, they can’t access the virtual currency to transfer it to your beneficiaries.įor now, it’s up to you to make sure your chosen executor (also known as a personal representative) has all of the information they need to inventory your digital assets so they can distribute them to your beneficiaries along with your physical estate.1. The only way to access your crypto is with a private key – typically a 64-digit passcode. There’s no directory or central body that governs NFTs or cryptocurrency – it’s purposely decentralized, which is great for privacy but can result in a lot of headache for family members who are trying to determine if their deceased loved one held valuable digital assets. Related Article: Make Your Digital Legacy Plan in 5 Easy StepsĬryptocurrency is decentralized. Companies like Apple and Facebook have digital legacy planning features for transferring some social media and digital assets upon the death of an account holder, but what about all of your other accounts? Although some wallet providers like Coinbase clearly outline what an executor or family member can do to retrieve digital assets in case of the death of the account holder, these kinds of policies are nowhere near industry standard. There are two distinct factors at play here: the novelty of the industry and the way its economy is structured.Ĭryptocurrency is very young.
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