Ownership Of Digital Assets Can Be Dubious After Death
Does your estate plan protect your digital assets? Most folks know what physical assets are and how important it is to protect them, but did you realize things like online bank and brokerage accounts, digital photo galleries, as well as email and social media accounts need protection and risk management as well?
Consider this: Should you die without addressing digital assets in your estate plan, your family may never know they exist or may need to battle in court for access and ownership. In today’s online paperless world of transactions, many personal items and most business documents are stored in the cloud, electronically rather than a desk drawer or safety deposit box. This makes it difficult for family members or legal representatives to gather tax returns, bank and brokerage account statements, stock certificates, contracts, insurance policies, loan agreements, etc.
If you have to log into online accounts to retrieve financial information, how will your family do so with out your log-in and password? How will they even know where to look? If you keep this information stored on your phone – can they access your phone?
Confused about where to begin or not sure what you need? eMoney makes it easy with a virtual vault for storage of digital assets and documents. The TFG team can assist clients with organizing their financial information and streamline the digital data gathering process. Copies of all your important financial statements and account documents can then be uploaded and digitally stored and safeguarded. With an unlimited digital document storage vault, it’s easy to securely share and access files from one location whenever and wherever you and your family or legal representatives need them. Think of it as a high security, online filing cabinet for financial documents, legal documents, wills, tax returns, multimedia files and more. Items are available 24/7/365 through any internet-connected device.
eMoney is an interactive financial website that you create with the help of your financial advisor. TFG uses eMoney to build clients a dashboard from which they can define financial goals and then track their progress in real time. Interactive tools help you visualize your cash flow, adjust your estate plan distributions, and see how financial decisions will affect your financial future.
Contact Us: Need comprehensive and safe storage for your digital assets with easy access? Need a way to visualize your nest egg and the impact of your financial decisions? eMoney might be a solution. Feel free to contact me, Cory Lyon, directly at 561-209-1120, with any questions regarding financial investment strategies. At TFG, we believe in customized investment portfolio design and personalized asset management. I act as a fiduciary for all my clients.
TFG Financial Advisors, LLC is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results. Investments involve risk and are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.