Can you count on your fingers how many digital accounts you have? Too many to count, right? Even if we exclude social media, our lives are still significantly present in the digital space. We use our digital accounts to do almost everything, starting from banking, bill payments, remote work to online shopping and groceries and food deliveries.
Have you ever wondered what would happen to all your personal information once you have passed away? What would happen to your digital assets and private information? These are the instances where you need a digital will.
What is a Digital Will?
Just like the “Last Will and Testament” is created for all physical assets, estates and property of an individual. Similarly, a digital will is a will where the fate of the individual’s digital presence is determined.
In a Digital Will, the digital executor may have to perform tasks such as memorializing, deleting and clearing sensitive information from the accounts. Planning your digital will ahead of time makes carrying out your last wishes easier for your loved ones.
Why would I need a Digital Will?
You might wonder if a digital Will is necessary for me. I am not a celebrity or an influencer. Will it not be a waste? Like we said before, our lives are pretty digitally optimised. You might not be a social media influencer, but whatever picture and videos you have in your social media accounts are your asset and property. They are memories that your loved ones can remember you with when you are no longer with them.
Leaving aside social media, do you know many subscriptions you pay for? From your newspaper to your entertainment, all of those sites charge you money. What will happen to those? Someone will need to close and delete those accounts after you have passed away.
What will happen if you traded cryptocurrencies or were a small business owner or a Youtuber who receive money digitally, how would that be settled? Even your email accounts, cash payment account and bank accounts operate digitally. These are the times you would ideally need a digital will.
When you are gone, having a digital will would streamline the process, allowing your loved ones to carry out your last wishes.
Now that you see the need for a digital will, how to prepare your passwords for your digital will.
How to prepare your passwords for your digital will?
The question remains how will pass the sensitive information down to your digital executor after you are gone securely. Apart from passwords, an account can have multiple requirements to operate properly. You will need to create an inventory for all of them. Some of them are:
Passwords and Digital PIN
Device Password- Computer, Laptop, Tablet, Mobile
Security Questions and Codes
Bank Account Number
Medical ID, Insurance Number
There can be multiple other details that can be listed. While creating a digital will for your accounts and password, you will need to create a database with these details if it applies. This helps your digital executor to close your account.
You might ask where should we do all this, in the back of a notebook? That doesn’t seem very secure. Multiple sites offer services of being a password manager, but which one should you choose? While leaving behind such sensitive documents and information, the one thing that needs to be kept in mind is security. With Clocr, you can store your passwords and sensitive files in peace. You can create a legacy plan for all your online accounts and digital assets in seconds. You can even designate who can take possession of your accounts when the time comes. Clocr and its patent-pending, ultra-secure Digital Vault will keep your passwords, master passwords, and bitcoin keys private, safe, and secure. When you create your digital will, your loved ones will not face any unexpected stress or difficulties settling your digital assets and accounts.