Protecting Your Digital Assets-Estate Planning- When designing a will or living trust, you decide the fate of all your property and estate, making sure none is left untreated. But, what about your bank and online transaction accounts? Will no one be ever able to access them? What about the collection of your personal pictures, music and movies? You spent your life collecting that stuff and you don’t want anyone to take care of it, after you die. Why? This may be, because you think there is no such thing as digital data security. Or, chances are you can’t rely on anyone with your digital data.
There must be these concerns in your mind, fair enough. But, what if you get to know a way to secure your digital data? You work hard your whole life, saving money in online accounts, accessing them. But, when you’re there no more, will all your hard work go to waste? Don’t you want your family to use it in their best interest?
This is the modern age of digital technology. Every invention is technology based. Keeping in mind the necessities of this era, there are securities for digital assets, too. To assist you understand the importance of planning an estate plan for your digital accounts, here’re some of the reasons.
Preventing Account Hacking and Thefts
The Federal Trade Commission is reported to have noticed that almost nine million people are prey of these online thefts. This happens when a person is unable to access their account for a long time. The criminals then hack the accounts and steal money from there. They may even use those accounts for illegal activities. Therefore, if any other person knows the password of that account, the government can easily protect the dead person’s identity.
Access to Financial Asset through Online Accounts
Sometimes an asset is present only in online shape. In such situations, it is almost impossible to benefit or protect that asset. Access to those accounts will make things easier for relatives and family.
Collection of Emotional and Personal Mails
You all have those accounts where you save your personal letters, notes and music. You have made albums of you with your loved ones. You have written blogs for your own personal satisfaction. Would you like that all of it goes to waste? Even if you don’t want to share it with anyone, it’s all right. But that’s not it. The worse that could happen to your stuff is that these accounts could be used by hackers and chances are they might post your stuff. It could be your pictures, your love letters and your secrets or anything.
So, why not protect and preserve it, if you have this option!
The Nelson Law Group PC will guide you through to decide for the care taker of your account. If you don’t feel comfortable with family, you may give it to a friend or even your lawyer. You could also place it in a separate document in your will. For more details, please contact Nelson Law Group PC at 972) 808.7227.