As I approach yet another birthday, I realized that I have not yet included my domain names and other digital assets such as cryptocurrency (11% of all Bitcoin is lost in old PCs) in my last will and testament and living trust. These assets could be quite valuable someday (just look at Voice.com) especially many years in the future. But without digital assets being included in a will & trust, none of my heirs would benefit from their value or frankly have any idea that I owned them. Without someone first being aware of and secondly managing these digital assets, they would all expire worthless or be lost in the cloud.
So get your ducks in a row . . .
- Start with a detailed list of the digital assets and where you acquired them and print that out to be included with the will & trust.
- Next, include with the will & trust a flash drive with all the logins and passwords for each and every digital asset.
- Password protect the flash drive and/or the password file name for additional security.
- Finally, make that password something that only your heirs would know. An example of this might be the first initial of your children or grandchildren followed by the year they were born in chronological order.
Digital assets have value, similar to a house or car so include them in your will & trust documents and all of your hard work to acquire them won’t go to waste.