How to Protect Your Digital Assets

The world is changing, especially when it comes to how people make, spend, and store money. This is especially true in the case of Bitcoin and other online or cryptocurrency.  

All of these changes have many people wondering what will happen to their online funds after they die. They wonder if there is any way to protect these assets and to potentially pass them on to others.

The good news is that there are options available. You just have to know about them and then make them work for you.

Keep Careful Track of What You Have

First things first, make sure you are keeping careful track of what your digital assets actually are and the exact amounts. You’d be surprised at how many people are unsure about how much cryptocurrency they have saved up.

Cryptocurrency isn’t the only type of digital asset either. Many people store photos and other important mementos online, and it would be a shame to lose access to all of that once a person passes on.

Thus, the first step in making sure all digital assets, in all their forms, are available after death, is to keep careful track of what those assets are and where and how they are stored. It’s a good idea to keep a running list of your assets somewhere and to make sure that those you care about also have access to it.

Choose a Fiduciary

In addition to keeping careful track of your digital assets, go ahead and name someone as a digital fiduciary in your will. More and more people are taking this step of appointing someone to be in charge of their digital assets following death.

You may also want to make good use of any relevant tools offered by major sites. Facebook, for example, gives you the option of putting someone in charge of your account after your death, someone who would be able to shut down your account or take other steps, such as memorializing it, after your death.

In addition to following these helpful tips, speaking with a financial consultant about how best to manage your digital assets both now and after death can be extremely helpful.