Think about your normal day and the things you do on the internet. Visit Facebook, pay for stuff from Amazon, maybe bid on something on eBay and pay through PayPal. For businesses, it can be things like customer interactions, making and receiving payments, chatting with colleagues. All of these things create a digital record of our lives and activities.
Digital inheritance deals with what happens to all of this information and these digital assets after we die. The monetary value of personal assets online in the UK alone is estimated at £25 billion and one third of people admit they would not be able to replace these digitally stored assets if something happened and they were lost. One quarter of people also admitted people wouldn’t be able to access their digital content after they died.
An important consideration is therefore digital inheritance – who handles your online assets after your death and how do they do it. It is worth thinking about the policies of the companies you deal with the most, especially for financial transactions – do they have a transfer of benefits of the account after death? Some will have a rule where a period of inactivity leads to a forfeit of any money in the account.
Recording digital assets and creating a ‘guardian’ who is responsible for them after your death is an important part of your online use and is something that both people and businesses need to consider.
Please contact Clyde Solutions to discuss your requirements.
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