It’s interesting to think just how much the rise of technology and especially Social Media has affected our lives in the last decade (or two). Not much of our daily lives exists without logging into our Facebook account, checking our LinkedIn Inmail or signing up to Netflix to catch the next trending show.
So the question then arises, what happens to our digital footprint when we’re gone?
The facts are certainly interesting. Did you know that 30 million deceased Facebook users still have active profiles? In addition, 7 million deceased people are still paying their Spotify subscriptions. The numbers are astounding.
Passing on your digital accounts to loved ones is an important task to remember when organising your life information. This is why at LifeReady we have specifically created templates that pertain to securely storing information related to your digital accounts (usernames and passwords) for you to pass on to your loved ones and trusted advisors. Gone are the days where digital currency is locked behind inaccessible passwords and you are unable to delete an online profile of a loved one who has passed away.
Furthermore, it is important that the credentials to any digital assets you may have online is shared with someone you trust in the event that you can’t access it.
An interesting example is the true story of the owner of Canada’s biggest crypto-currency exchange, Gerald Cotton. Mr Cotton suddenly passed away and had thousands of investors that were owed money. There was $145 million in bitcoin along with other assets that could have been used to pay them, however it was all locked behind a password and encrypted laptop that not even his wife knew how to access
Thus, when organising your life administration, do not forget to include your social media accounts and digital profiles.
Find out more about how a LifeReady Vault could be what you need here.