Posts tagged “Digital assets”

You can leave cryptocurrency like Bitcoin to your loved ones when you die
Cryptocurrency is digital money. It’s protected by technology called blockchain which safely stores information about your transactions. 
Many people are interested in cryptocurrency because banks and governments don’t control it. 
You can use cryptocurrency to buy some things online but it’s also a new way to invest and save for the future. Some think the value of cryptocurrencies will go up as more people use them. 
Using a smartphone and digital account is common but leaves little evidence of your assets when you die
Moving to online banking and turning off paper statements is convenient and popular. However, it’s easy to forget that this means there’s very little to tell your loved ones where your assets are when you die. 
If they don’t have access to your digital devices and account details they might never find what you have left behind. 
Even photo stored on your phone or in the cloud are digital assets
Social media and email accounts, cryptocurrencies, and photographs stored in the cloud are all digital assets
Although they are an important part of our lives, we probably haven’t given much thought to what will happen to them if we die or are unable to make decisions about them. 
Joint research by the Society of Trust and Estate Practitioners (STEP) and the Microsoft-funded Cloud Legal Project at Queen Mary University of London has looked at the practical issues surrounding digital assets for estate planning. 
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