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When creating a will, many think about their physical assets such as property, cars and jewellery but forget about including digital assets such as access to digital photographs, email accounts, social media passwords, online domains and crypto-currency accounts.
Commenting to the publication, Jodie said: “Many digital assets, such as the balance on your PayPal account, or any crypto-currencies you own, will have monetary value. For this reason, you should make provisions for the executor of your will to have access to those funds in the event of your death. Some other accounts, such as Amazon or Spotify, may not have any monetary value, but you may wish to pass these on to a loved one who can continue to utilise them.
“If you fail to leave instructions, your executors or family members may know about your more obvious digital assets (such as social media accounts) and would be able to wind them up. However, lesser known assets – including crypto-currencies – are more difficult to make arrangements for, and your family members may not know how to find them unless you make specific arrangements.”
To read the article please visit whatinvestment.co.uk.
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