Digital Wills

 

 

In the pre-internet day, death was a relatively simple affair. The deceased’s belongings would be sorted through, boxed up, and divided among family and friends as a tangible reminder of life. A Will is a legal document that allows a person to give instructions on what to do with their available possessions once they pass away.

However, what happens to your digital assets and online presence when the inevitable happens?

Suddenly, finding all the accounts and passwords for business and personal accounts becomes a real challenge.

Cryptocurrency trading has become increasingly popular, and usually, there is only one password holder – you!

Many people do not make plans for their digital presence or digital assets, which means their loved ones will struggle to understand it all. 

A digital Will allows you to manage the fate of your online presence and assets in one document without making arrangements with each site individually, as not all sites allow you to do this. Your website names, addresses, usernames, passwords, and other relevant information like security questions and answers will be stored in one place, ensuring your family has everything they need when the time comes.

Digital Wills

Benefits of Having a Will

A digital Will allows you to manage the fate of your online presence and assets in one document without making arrangements with each site individually, as not all sites allow you to do this.
Here are other key benefits of writing a will:

  1. If you die without a will, gaining ownership of your assets is costly. Probate can cost between 3%-7% of the value of your estate, even with a will.
  2. If you have assets in other countries, you will need separate (original) wills for the different probate rules per country.
  3. If you are in a civil partnership, many countries will not recognise this under their Intestacy Rules, and your partner will not inherit unless you have written a will.
  4. If you are in a blended family or have remarried, you must change your original will or write a clear, updated one.
  5. If you have minor children, you should write a will to determine at what age they inherit. The default age is 18 years of age.
  6. If you are a business owner or partner, writing a will can ensure the safe transfer of your shares.

A digital Will allows you to manage the fate of your online presence and assets in one document without making arrangements with each site individually, as not all sites allow you to do this.

Your website names, website addresses, usernames, passwords, and any other relevant information like security questions and answers will be stored in one place, ensuring your family has everything they need when the time comes.

Learn more

Other Services

$

Estate Planning

Everyone has possessions they will leave behind when they die and should make provisions for how they want these to be distributed.

$

Wills

Without a Will, the Court of Probate makes decisions on your behalf –  the risk being your possessions will not be distributed as you would like.

$

Trusts

Your property passes immediately and directly to your named beneficiaries whenever needed with the right type of trust in place.

$

Power of Attorney

You choose who makes decisions, in keeping with your preferences, for the handling of your medical care, assets, and investments.

$

Guardianship

Ideally, guardians should be appointed in a Will and a Deed, giving them immediate access to take charge of the care of children.

$

Set Up A Consultation

Reach out to the experts at Carey Suen today and begin putting plans in place to secure the future of your legacy.
$

Cross-Border Planning

It is important to consider your overall tax status when you marry or move to another country or invest in an asset away from home.
$

Company Protection

The company should consider how it would financially replace its key person if this person were to die or become incapacitated.
$

UK Citizens

Special rules apply to the calculation of inheritance tax on the global assets of UK passport holders who live outside the UK.

We specialise in a diverse set of bespoke estate management solutions to protect you and your assets from the uncertainties and eventualities of life.

Among our services are the following:

  • When you die, your possessions will remain in your control.
  • Taking care of your beneficiaries is our priority (especially for the most vulnerable).
  • Catering to the tax concerns people who live abroad as well as those with international family ties or investments
  • Helping you secure your digital property in an increasingly digital world.
  • We provide advice and solutions for leader replacement in cases of retirement or death.
  • Ensuring someone is assigned to carry out your wishes in the event you cannot do so.

Understanding local and global laws and taxes is essential to our processes.

Additionally, they need the flexibility to create solutions that cater to the specific situations and scenarios our clients present.

​

Learn More