What is a digital estate planning company
With the growing presence of digital media and redundancy of physical media sales, it is important to establish how to protect your digital assets. There are many digital estate planning companies that offer specialized services for individuals and companies to protect their digital assets. Due to the number of options available for individuals with regards to bequeathing computerized property, it may be advised to enlist the guidance and advice of a professional consultancy firm.
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Digital estate planning companies explained
A digital estate planning company offers specialized, confidential and secure asset protection solutions for individuals and companies wishing to protection their digital assets to ultimately leave the property to loved ones when they die.
Digital asset protection is a relatively new area of expertise adopted by professional wealth management and estate planning companies, and proves to be a highly beneficial solution for many individuals seeking a safe environment to store passwords and other sensitive information.
A digital estate planning company will hold individuals’ passwords, usernames, access codes, online financial data, and other types of personal information on behalf of the property owner. The information held is typically stored in an encrypted format meaning the level of security, privacy and confidentiality is great.
On death of the stored digital assets owner, the digital estate planning company will normally verify with two or more reliable persons that the ‘testator’ has died before they will release the assets to the nominated beneficiaries as stipulated by the testator at the time of storing his/her digital assets.
Once the asset owner’s death is confirmed and nominated beneficiaries are contacted, the stored digital assets are distributed to the necessary parties.
Digital estate planning companies will typically charge a one off or annual fee for such services.
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