[et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”4.16″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row admin_label=”Row” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/www.gunderwealth.com\/wp-content\/uploads\/2022\/04\/Untitled-design-1.png” alt=”Digital Assets” title_text=”Digital Assets” align=”center” force_fullwidth=”on” align_tablet=”center” align_phone=”” align_last_edited=”on|phone” _builder_version=”4.17.2″ max_height=”800px” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.17.2″ ul_line_height=”1.7em” header_line_height=”1.5em” header_3_line_height=”1.5em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
How much wealth<\/strong> is represented by your digital assets?<\/p>\n \u201cI don\u2019t have any papers \u2013 everything is online.\u201d Have you heard this line before? Well, that\u2019s great until it isn\u2019t.<\/p>\n Wealth is in jeopardy if professionals don\u2019t know where your data and documents reside. Who will spend over 100 hours securing your trust and estate accounts?<\/p>\n Most people have over 150 different digital accounts. Questioning whether that\u2019s you? Consider these categories:<\/p>\n Many institutions auto deduct from your account. In other words, they don\u2019t send a bill (i.e., Amazon Prime, Netflix). As a result, assets are lost, stolen, and unrecoverable.<\/strong> And if you can\u2019t gain access timely, the asset value decreases, assuming they\u2019re accessible.<\/p>\n That depends on how quickly fraudsters pick up the information of a decedent. First, they read the obituaries and replicate their social accounts (with a tweak to your name or email). Then, BOOM! They are opening accounts on the decedent\u2019s behalf.<\/p>\n If you pass, will payments still come into (i.e., Social Security) or out of (i.e., mortgage, credit card) your account?<\/p>\n What about your social profiles \u2013 how do you take those down or gain access to them? When you are living, designate a contact to access your accounts after you pass:<\/p>\n Social sites don\u2019t make this easy to find in your profile. However, it\u2019s not easy to get a court order for a fiduciary to access your account(s) after the fact.<\/p>\n It\u2019s easy to lose track of intangible assets. Make an inventory while living and revisit it often.<\/strong>\u00a0 Consider performing a routine discovery process: Crypto? Patents? Web domains? Include all of it!<\/p>\n Look for escheated property while living.<\/p>\n Remember that using a password manager isn\u2019t a plan to protect your assets. These are helpful while living. But, password sharing is not a legal means to access the decedent\u2019s account. The court may look at this as impersonation, which could invalidate someone else\u2019s access.<\/p>\n If you use a password manager, export your credentials and save them in a secure place. Whether in hard copy or cloud-based vault storage (i.e., Everplans), make sure someone you trust knows the location.<\/p>\n Consider discussing this annually with those you trust while living and at least annually.<\/p>\n Ease the transition for your loved ones by protecting your assets and identity, finding hidden wealth, and closing unnecessary accounts. This applies to all financial and social accounts.<\/p>\n Keep a list of family and professional contacts (i.e., estate attorney, financial advisor, insurance) needed for notification. Review wills and trusts periodically with your estate attorney. Be sure your estate documents incorporate tangible and digital fiduciary roles.<\/p>\n Remember:<\/p>\nWhat are Digital Assets?<\/strong><\/h3>\n
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What Happens to Digital Assets After Life?<\/strong><\/h3>\n
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How To Secure Your Digital Assets<\/strong><\/h3>\n
When Should You Discuss Digital Assets? <\/strong><\/h3>\n
Who to Turn To <\/strong><\/h3>\n