How did we manage in the past? Our busy lives call for more technology, faster delivery times, and we want everything now, now NOW! Paying bills, banking online, ordering groceries, and speaking to friends – everything can be done at the click of a button whenever and wherever we want.
But with this wonderful convenience comes greater risk. No longer are our accounts safely tucked away under lock and key and no longer are our personal details something we have filed away in a drawer. The digital age has brought with it greater considerations for security and the way we deal with our personal affairs and finances online.
Whilst many people are very diligent about their personal data online they may not consider the implications of their online assets continuing to be available online after their death. Many couples of instance have insurance policies, bank accounts and other arrangements that are held under a sole name. In the event of one partner dying, the other partner may have real difficulty accessing or closing these accounts if they do not have the personal details required to access them. This many not just apply to bank accounts and investments. Pictures, music, books and social media accounts could also be unavailable if the password details are known only to the deceased.
So how do you go about keeping your personal data safe and out of the wrong hands whilst also ensuring your loved ones have access to what they need when you die?
Digital inheritance is really only just starting to gain impetus, but as the digital legacy problem starts to rear its head more and more, many people are starting to take notice and get their digital affairs in order. Using a digital legacy will ensure that every single online asset you own is recorded in detail and kept 100% secure. You can appoint a trusted person to gain access to your records when you die and give instructions to that person on how you would like your affairs to be taken care of.
Digital legacy services of this kind are also very useful for the living. They allow you to keep track of your online assets, add and remove assets as you go, and keep a centralised store of all user accounts and passwords – handy if you manage a large number of online accounts and need to remind yourself of passwords or other details.
The way a digital legacy service works is simple. You open an account, upload data you wish to be stored, or include details of any account records you wish to be recorded and then leave details with your trusted executor or in your will.