• Published Date

    November 19, 2018
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PROMOTION What will happen to my digital assets when I pass away? t'sa question we shoukdallbeaskingourselves nowadays as more Possible solutions include using a safety deposit hox to store and more of tus hold a variety of assets in a digital Sorm. Thesepins and passwords in. A popular alternative is to leave a sealed incangible assets may include photos, videos, contact details envelope with your original will to be opened only on your death downloaded music, blogs, podcasts and a variety of documents whichcontains a letter with the details ofall your digital assetsand in MicrosoltWord, Exceland PowerPoint storedon lapsops, tablets rypeocurrencies and the various usernames, related passwords mobilephones, the Cloud, the internetete-the list goeson andon. and pin nambers and ellheirexecutors where it is hidden. Cuhers Some of these assets may have a monetary value-your PayPa accoant, online bank account, online gaming credits or even that best-selling novel stoeed in Word that you havent got around o printing. hide a note in a drawer or document folder and tell theirexecutors where it is hidden. Whichever method you use, it is vital to keep hese access details up todat Finally, consider whether yourwill should contain gifts of your Others will have sentimentalvalue-your family phosos, videosdigital assets and cryptocurrencies and include clear and specific telephone numbers and emails, seanned images of pictures intructions for your executorsto ensure they havethelegal powers your children drew at school where the originals have long since handle them after your death. disappeared into the recycling bin. And then tbereareallyouremail and social mediaaccounts What will happen to the consent on these when you pass away? Wil they becomedormant or canyour executors downloadthe contentand close yourprofile down? Recent news items have shown providers such as Facebook can make life challenging for third parties to access theseprivate accounts Wha if you own cryplocurrency such as Ritcoin and the like? Securiry is key and your virtual assets are only accessible by your Phap Lansberry, partner and head of legal at Kreston Reeves private pin. They are ocherwise impossible for your executors and philip lansberry loved ones to discover as they are not managed by an institution youcancontact: insteadthe system operates through a woeldwide network of volanteer coders. I youowncryptocurreney or left a written note ofthe details for your nearest and dearest, the value of your asset may disappear foeever into the digital abyss you haven't told anyone el So how do you enable your personal representatihves to identify andsecurelypasson yourvaluablecryptocurrency and digitalassets to the next generatlon? How do you ensure your preclous photosSarah Kench, solcitor phonemumbers, socialmediaaccounts and the like canberetrieved and accessed tby your personal sepeesentatives? 01403 258282 I www.krest KRESTON REEVES