“And to my beloved daughter, I give the leather-bound album of cherished family photographs.”
Sure, that sounds right for the old days. Today the pics might be on your laptop. We’ve got all sorts of valuable items stored electronically, and it’s time we started treating them accordingly.
What is digital property?
Digital property is text, images, multimedia content or any digital information stored on a computer, electronic device or data storage unit. Some assets will have personal or sentimental value, like online photos and video, social media accounts, blogs and personal websites.
Other items have financial value or importance, including bank and investment accounts, tax records, online subscriptions, bills paid online, and a PayPal account.
Keep all your property safe
If you don’t create a digital property inventory and state your wishes in your will, any number of problems may result. Automatic bill payments could continue. Treasured photos and videos might be lost. Your digital record could be used for identity theft. Your estate administrator could face red tape and headaches trying to access and distribute your digital property.
To help safeguard your digital assets you can:
- Make an inventory of important digital items and accounts along with passwords and security answers (remember to update passwords if you change them).
- Record your wish for each item, whether it’s to be given to a beneficiary, deleted, or handled any other way.
- Add a digital assets clause to your will and power of attorney or mandate.
This material was prepared for and published on behalf of your financial advisor and is intended only for clients resident in the jurisdiction(s) where their representative is registered. This material is provided solely for informational and educational purposes and is not to be construed as an offer or solicitation for the sale or purchase of any securities or as providing individual investment, tax or legal advice. Consult your professional advisor(s) prior to acting on the basis of this material. Insurance products are available through advisors registered with applicable insurance regulators. Individual equities are available only through representatives of Assante Capital Management Ltd. In considering any particular investment, please remember that past performance is no guarantee of future performance. Although this material has been compiled from sources believed to be reliable, we cannot guarantee its accuracy or completeness. All opinions expressed and data provided herein are subject to change without notice. Neither Assante Financial Management Ltd. or Assante Capital Management Ltd. nor their affiliates or their respective officers, directors, employees or advisors are responsible in any way for any damages or losses of any kind whatsoever in respect of the use of this material. Certain names, logos or graphics herein may constitute trade names, trade-marks or service marks (“Trade-marks”) of CI Investments Inc. and/or its affiliates or of third parties. The display of Trade-marks herein does not imply any license has been granted to any third party. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. Copyright © 2021 Assante Wealth Management (Canada) Ltd. All rights reserved.