Protecting Your Digital Assets in the Age of “The Cloud”

In the Internet age, we not only own real estate, bank accounts, shares and other investments, but we also often own valuable digital assets, including digital music, books and photography.

In addition to the value of these assets before inheritance tax, the real value of these assets lies in their sentimental value to the beneficiaries of the deceased, as they represent a very personal inheritance.

Although these assets are transferred by will or death in the same way as your other assets, the ability of your executors to access these digital assets may be somewhat difficult to access due to non-transferable conditions. Providers. . Thus, the correctly named executors in your will can definitely help you in this regard, especially if your will has clear guidelines for your digital assets.

In addition, if you do not have a will and the rules of death take effect, your digitized assets may fall into the possession of those you do not want to use.

Perhaps more importantly, how your executors or administrators are going to find your precious digital assets if they don’t know about them because they can be lost forever.

There are a number of practical steps you can take to protect your digital assets:

Make a list of your digital assets and passwords and update them regularly.

Keep a copy of the scanned assets securely from a lawyer, bank, or online specialist. Ideally, this list should be password protected and stored only in a safe place outside your home.

Make sure a family member or trusted friend knows where your access list is stored.

Create or renew your will to ensure that your digital and other assets are properly transferred to the chosen beneficiary (yam).

Also consider backing up your most valuable digital assets with a lawyer or bank.
Of course, it is vital that the security of your digital security is not compromised and that as few people as possible can access your list of information about your digital assets.

Leave a Reply