We’ve all heard the horror stories of loved ones losing access to their loved one’s accounts after they pass away. This is a serious problem that can lead to a lot of unnecessary stress and confusion. So how can you protect your digital assets?
In some countries there are laws in place which allows fiduciaries to access digital assets of the deceased without violating the terms of service of online service providers. As an example in the United States there is a law called the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA).
In order for a fiduciary to access digital assets, the following steps must be followed:
- The fiduciary must prove that they are a legally authorized representative of the deceased.
- The fiduciary must provide the online service provider with a copy of the death certificate.
- The online service provider must then provide the fiduciary with access to the digital assets of the deceased.
So who is a fiduciary?
A fiduciary is an individual who is legally authorized to act on behalf of another person. A fiduciary can be an executor, administrator, or anyone who has been granted the power to act on behalf of another individual.
You should know that digital assets are any form of online content that can be transferred to another individual. This includes emails, social media accounts, online accounts, and any other digital content. Some online service providers may choose to allow fiduciaries to access digital assets of the deceased without violating their terms of service. It often takes a lot of time for loved one’s to finally access your digital assets before of the company guidelines
Provide access to your digital belongings
What if the online service provider does not allow fiduciaries to access digital assets of the deceased without violating their terms of service? In that case, the fiduciary must follow the terms of service of the online service provider. It could become very difficult to gain access in that case.
What if you could protect your digital assets and ensure that your loved ones can access them after you pass away? You can do this by using a digital asset management service like Myend.
Myend allows you to store your passwords, digital assets, and other important information in one secure place. This service also allows you to share this information with your loved ones after you pass away.
You can do this by sharing your Myend access with your family members as Legacy Contacts. This ensures that they will be able to access your digital assets after you pass away. This is an easy way to protect your digital assets after death.
Protect your digital assets with a Vault
Myend’s Vault service allows you to store, protect and update all your digital assets. End-of-life planning is the new way of keeping everything dear to you safe and accessible. Curious to know more? Have a look here.
Final Thoughts
Digital assets are becoming increasingly important in our daily lives. These assets can be accessed from anywhere in the world and they’re often worth a lot of money.
If you want to protect your digital assets after death, you need to take some time and create a plan. You can do this by creating a will and a living trust. These documents will help ensure that your digital assets are distributed to the right people.
You can also protect your digital assets by using an estate planning checklist. This checklist will help you make sure that your digital assets are protected after death. You could trust some service providers to give loved one’s access, but it’s no guarantee.
You can also protect your digital assets by using a digital asset management service like Myend. Sign up today completely free of charge and experience the future of end-of-life planning.
