Ted Bauman wrote an article a few weeks ago on how to safeguard their digital assets in the unfortunate event that they may find themselves incapacitated or even worse if they die. This is because our lives today whether personal, social or even professional are so dependent on the digital infrastructure. Almost all of our financial transactions and communications have some sort of digital footprint. The world today expects all of us to have an email account, a debit or credit card, online photographs, social media accounts and even a website. It has become almost inevitable to operate these days without all or some of the aforementioned items. Visit linkedin.com to know more.
Almost everything in the digital world is protected by passwords that are also increasingly embedded in more authentication devices that also require, even more, passwords to recover the master password. Ever given a thought on what will happen if for some reason say death or even incapacitation and we are unable to remember the passwords and nobody else knows even one of those passwords to your email accounts, personal identification numbers (PINs) of your credit cards, or even access codes to your safes?
Given that currently there are no federal laws that regulate access to and how digital property is inherited and only 29 states have set up laws to protect digital assets and also have provisions that give a deceased or incapacitated person’s family the rights and procedures to access and manage the given digital assets after death or incapacitation, there is need to secure your digital estate way before it comes to this. According to Ted Bauman, these are some of the measures one can take to secure their digital estate.
The first step is to make a register of all your digital accounts including their login IDs and passwords using password management services such as Dashlane. The second step involves creating an online vault for the digital assets that you might want to be stored in a separate space using data encryption services like SecureSafe. Thirdly, create a digital estate plan which will provide precise and specific statements of intent about who will gain access to what information. Finally choose who among your trustees will access what types assets depending on your levels of trust, if need be.