Have you ever considered what will happen to your digital life once you die? For most people, the answer is no. Take a moment to consider which devices you may own and use on a daily basis:
Don't leave your loved ones with the burden of determining what happens to your digital legacy. Start the Digital Estate Planning process with Final Security today.
This list could go on, but that gives you a picture of how immersed we all are in technology in our daily lives. It is without question that we are living in a digital world that is powered by technology. According to a study from Penn State University professor Bart Pursel, Ph.D, Americans are spending more than 10 hours a day on their devices. Our usage of technology is only growing, and this trend is here to stay.
Each of our digital devices and assets are constantly adding to our digital footprint. Each of these carry new responsibilities that we need to account for to ensure we are protecting our loved ones and our legacy.
Digital legacy and digital estate planning is about protecting you and your loved ones from cybercrime and financial theft, protecting your assets, ensuring your important files are found and protecting your legacy.
According to AARP, it can take six months for financial institutions, credit-reporting bureaus and the Social Security Administration to receive, share or register death records. When we consider that cybercrime has become more profitable than the drug trade and with widely available funeral announcements, this creates the perfect scenario for criminals to strike. Your digital estate is a prime target for identity theft and other types of financial and digital theft. It has become imperative that you start to plan properly for your digital death.
Did you know that according to AARP, close to 800,000 deceased individuals are targeted for identity theft annually? That's almost 2,200 a day. With a name, address and birth date, criminals can purchase a Social Security number for as little as $10. Stealing the identity of the deceased is called ghosting, and you can learn more about it here.
Take a moment and think about all the financial, personal, sensitive or private information that you may have on your device(s):
Your unaccounted for digital footprint can cause your loved ones tremendous burden, stress and expense, all while leaving your entire life and legacy forever tarnished.
Organize your digital estate now, or your digital and offline life could be frozen for 18 months or more in probate, or even worse, never found.
If you have ever lost a loved one, you may have gone through the process of estate planning or settling their estate.
Estate planning can make things easier for your loved ones after you pass. You can consider how you would like each part of your life settled - accounts and debts, property, funeral arrangements, etc. Your digital property is no different.
As technology has become a main component to most aspects of our lives, we are constantly building a digital footprint. Consider all the different aspects of your daily digital life:
Each different area has different rules, processes and requirements for your loved ones to be able to access (if even possible) your accounts when you are gone. Your assets, including money, could be frozen for 18 months or longer while your loved ones are going through the probate process. Not only is this incredibly frustrating for your loved ones during this difficult time, but they will also incur significant expense via the court and lawyers. Setting up your Info Vault today can ensure your loved ones do not have additional hassles and expenses, and enjoy the peace of mind knowing that everything you want them to find, will be found.
Final Security offers a complete digital estate and digital legacy solution to protect you and your loved ones. Our services to manage your digital legacy and estate include:
Get started today with Final Security the #1 Digital Legacy and Digital Estate planning company.
Cimino, A. (2018). Americans devout more than 10 hours a day to screen time, and growing | IST 110: Introduction to Information Sciences and Technology . From https://sites.psu.edu/ist110pursel/2018/02/21/americans-devout-more-than-10-hours-a-day-to-screen-time-and-growing
According to AARP, it can take six months for financial institutions, credit-reporting bureaus and the Social Security Administration to receive, share or register death records. When you consider that timeframe and that cybercrime is now more profitable than the global illegal drug trade, your digital estate is the perfect target for criminals. We need to protect and organize our digital lives in preparation of our digital death.
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