Thursday, February 18, 2010
Don't take your digital assets to the grave
How many password-protected online accounts (e-mail, PayPal, social networking, E*Trade, digital photo storage, or otherwise) do you own? If you passed away, would your loved ones know these accounts existed or how to access them?
Many people have money and other virtual assets sitting online that could be lost at their time of death. Planning for the disposition of your digital assets along with your physical belongings will help avoid unnecessary losses.
You have options for securing this digital information, but sharing this information with others is not advised, especially when it comes to financial accounts. Consider securing information about your digital assets by utilizing a safe deposit box at your financial institution or establishing a digital safe deposit box, like those offered through assetlock.net or legacylocker.com.
In either case, be sure to include a complete list of all digital accounts-anything with a logon--securely stored with instructions for your designated representative to have access. Don't take your passwords to the grave.
Portions of this article were derived from Home & Family Finance