What is Digital Legacy Management?
Digital legacy management systems enable people to easily manage, track and protect their digital and financial assets.
They also enable asset owners to provide transparency about their assets to their loved ones, should anything happen to them.
Digital legacy management services achieve that through several steps.
- First, they enable people to prepare, track and easily update their asset catalog.
- Second, they enable people to set up their digital inheritance plan, in which they can designate their loved ones as beneficiaries to each of their assets.
- And last, but probably most importantly, some of the digital legacy management systems have automatic detection of a fatal event happening to the owner and proactively inform the designated beneficiaries about the assets assigned to them. There’s no need for the family members to remember shared links for decades.
This gives great peace of mind to the asset owner, knowing that their loved ones will be aware of their assets, know how to identify and locate them, and receive help in the process of claiming.
Is it only for Digital Assets?
Some people use digital legacy management for their digital accounts, such as social platforms and email accounts.
But using it only for your online accounts is like using a nuke to kill a mosquito. Digital legacy management systems can protect much more than your online accounts. They can protect all your digital and financial assets, such as:
- Bank accounts
- Credit cards
- Insurance policies
- Company stocks in various online trading platforms or digital trading brokers
- Retirement plans
- Various overseas assets
- Crypto currencies — Bitcount, Etherium, etc.
- NFTs
- Stock options provided to employees by tech companies and startups — RSUs (Restricted Stock Units) and ESOPs (Employee Stock Options Plan)
Digital legacy management systems enable you to protect any asset — physical, digital, or financial.
Benefits of Digital Legacy Management Services
Digital legacy management services provide many great benefits. Let’s view them.
Detection of a fatal event and proactive notification of your loved ones about the designated assets
While not all digital legacy management services offer this capability, it provides amazing value not only to you but also to your loved ones.
It ensures that if something happens to you, they will be proactively notified about the designated assets. They’ll be aware of the assets and will know where to identify them and how to claim them.
Single pane of glass for your asset catalog
People have multiple and diverse assets, which are often complex for your loved ones to understand. To make things even more complicated, they are often stored in various repositories and online systems — trading accounts, digital wallets, stock management platforms, online vaults, etc.
Digital legacy management systems enable you and your loved ones to have a single pane of glass for your assets. That greatly eases the process of managing and tracking your asset catalog!
Easy update of your asset catalog
We’ve already discussed how people these days often have multiple and diverse assets, which are often stored in diverse systems and repositories.
All this creates not only little to no transparency for your loved ones about your assets, should anything happen to you, but also a problem for you. It is super difficult for you to keep that complex and dispersed asset catalog up to date.
You spend time diligently preparing a catalog of your assets on an Excel sheet. One month later, you decide to buy crypto. Some time after that, you buy a new insurance policy. Soon after, you get new stock options, buy new company stocks, decide to invest in a new tech startup against a share, convertible notes or SAFE. You soon realize that maintaining your asset catalog is not an easy task!
Digital legacy management systems enable you to easily update your asset catalog and keep it up to date.
Problems that Digital Legacy Management Solves
The main problem that digital legacy management services solve is the multi-billion global problem of abandoned and unclaimed assets — people’s money that stays in banks, insurance companies, online trading platforms, digital wallets and online vaults instead of reaching the rightful owners when the asset owners pass away.
The root cause of this problem is the lack of transparency for the family members about the assets, due to the assets being multiple and diverse, complex, in different systems and repositories, and often in different countries.
Digital legacy management services solve that problem and ensure that your loved ones will be aware of the assets which you designate to them, will know how to identify and claim them, and will receive support in the process of claiming.
DGLegacy helps to protect your digital legacy
How does DGLegacy help you to protect your digital legacy?
With DGLegacy, you can easily catalog your digital assets, which enables you to protect not only them but also your loved ones should an unforeseen event happen to you.
You are able to catalog your digital, financial, and non-financial assets, designate your preferred beneficiary to them, and have them notified at the time you choose — while ensuring that your executor will know where to find your important inheritance documents.
With DGLegacy, you can protect your digital legacy. Your secure document and password manager with digital inheritance also makes it easy for you to keep your list of digital assets and beneficiaries up to date.
This way, in the event of anything unforeseen happening to you, your loved ones:
- Are aware of your digital legacy
- Can identify and locate all your assets
- Can minimize the chance of unclaimed assets.
Originally published at https://www.dglegacy.com.
