Digital assets are company material, usually in electronic format, that are related to your product’s branding. Some of these may include personal websites and blogs, online accounts, social media pages, images, logos, maps, documents and investment accounts with online statements. Digital Asset Management entails organizing, sharing, and storing companies’ digital assets effectively. It has helped greatly with daily activities operations and high productivity by ensuring that digital assets are secured, in an organized manner and accessible to external and internal users.

In the past decades, digital assets security wasn’t the main concern for most people, but as our digital sphere increases, it is necessary to protect digital assets.  Just like any other assets, if you don’t take the necessary steps to secure your digital assets or make them easily transferable to your family, a long process to get them properly handled after you are gone will likely result.

The federal privacy laws don’t take action on digital assets management unless the individual takes specific action. Most states passed laws to protect the issue, although their solutions are far from perfect. Some of the accounts can be deleted automatically after death or the deceased family may have to get a court order for the right to access. Both options are not ideal and the latter can take a lot of years.

So How does somebody go about setting up a digital asset plan?

Make a list of digital assets

Create a list of your hardware, which includes your computer, backup hard drives, CD’s and/or DVD’s used to store important information. You can list your online accounts, such as social media, personal blogs, websites, email and credit cards. For all of these accounts, you must protect your login information such as username and password.

Safely Store Your Information

When you are done with your online account details, make a space for safe keeping. You can contact the Law Offices of Gary Waitzman to discuss options on how to secure your account information. Digital assets security experts warn against writing down any confidential information, but the reality is that your family will need this information when you are gone. You will need to not only write it down but keep this information in an accessible place. Make sure that someone you trust knows where this information is stored.

Select a digital assets agent 

Next, choose the right person to access and review all of your important online information after death. You can contact us for details on selecting a digital assets agent. A digital assets agent can be a member from your family or trusted person, because they will have full responsibility for your digital assets based on your stated instructions. Most states require this merit while others may require you to set up a related function associated with your state’s law. This can be difficult for those with multiple residences. Thus, your agent under your power of attorney, executor or trustee should be empowered to bring in the digital assets agent and hire additional professional assistance if required.

Finally, as the digital sphere grows and most of our lives take place online, it is important that your security in respect of your digital assets security is not compromised. It is necessary that few people have access to your list with information regarding your digital assets.

Contact Gary to find out more detail – by phone @ 847.719.1300 or click here to contact via web form.

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