Your digital final will
Myend e-will is an estate-planning service that explains and clarifies what your final wishes are at the time that you have passed away. Your e-will provides the needed information for those who are left behind. It is your online last will and testament.
Most people know that having some type of legal estate planning would be important, but the number of people who actually have one is declining. It seems that younger generations are postponing this more and more.
An e-will is (currently) a non-legally binding service, so when you do not have an official estate planning document it can help others to understand what should happen with your estate.
Sharing is good, and with digital technology sharing is easy
– Richard Stallman
🤷♀️ What is an e-will?
An e-will is a non-legally binding document that explains in great detail what you want to leave behind to your beneficiaries. You will have to invite one or more Trustees. These personal representatives will have to accept your Myend invitation. One of them could be the executor. This would be the person who will get access to your Myend e-will and will be in charge of settling your final wishes.
⚙️ How does an e-will work?
An e-will covers several issues. First you should invite one or more Trustees in order to make sure your e-will can be opened at the time of your death. You should name your beneficiaries, such as direct family members and friends.
When you have children, you should always have a legally binding statement if you want to name a guardian to take care of your children until they become adults.
An e-will can only provide insight in how you want to divide your assets. In practice it would be best when you archive your belongings in great detail. Use pictures and clear descriptions per item. Adding a beneficiary and a personal instruction would help your family members and the executor.
Your e-will also comes with a digital vault to store passwords, Pin codes and email access.
To manage your digital heritage, like online accounts, services and data files stored on hardware or online cloud platforms, you can ask your Trustee or a specific beneficiary to take care of these digital assets.
⚖️ Do I need an e-will?
In the state or country you live in at the time of your death, as well as any other place where you own real estate at the time of death a will provides the legal representation you need. So having an e-will can only help, in mapping out your assets and assigning beneficiaries. You can use your e-will as a dynamic version of a last will or testament.
🎯 Important points
An e-will is a representative service to state your final wishes and tell your family and friends who you want to leave your belongings and digital heritage to at the time of your death.
An e-will does not have any legal grounds at this point, it provides guidance for your Trustees and beneficiaries and helps the executor to handle your estate.
You will need a legally binding will to take care of matters like naming a guardian for your children and the transfer of assets.
Your Myend e-will will be accessible for your Trustees once you are gone to execute your final wishes and access your (hardware) accounts and (social media) passwords.