If you’re like most people, you have thousands of photos, songs, and files on your phone, on your computer, in the cloud, and on social media. If you’re a business owner, then your digital assets include customer lists, financial information, client files, designs, and so much more.
Now think about the person who needs access to your digital assets if you died or became disabled. It can be a nightmare for them to get access and it could adversely affect your business.
Alaska just passed the Access to Digital Assets Act that will make this much easier. All you need to do is designate the person in your will, trust, power of attorney, or similar document with authority to access all of your digital assets. The designation can be triggered immediately or upon an event such as your death.
With so much of our lives and business tied up in the digital world, it’s imperative to make sure someone is designated with access to your digital assets. Another way to make this easier is to place all of your passwords in an app such as 1password and make sure that someone you trust has access to the password vault.