Your Digital Assets, In Their Jurisdiction
Normally, social media, email and other digital accounts do not form part of the traditional physical will that you draw up with your lawyer. One reason is that in most cases a traditional will and local courts have no influence over global international corporations as they tend to be domiciled in nebulous offshore jurisdictions.
Digital assets are becoming much more valuable than physical assets.
In the old days, your favourite photos, documents, and bank accounts were physical assets with huge sentimental and financial value. The only way to pass on these assets was to transfer them physically, as they were stored and controlled locally. But when all the assets are digital, the traditional transfer process no longer works. Digital assets are stored all over the world in the hands of giant amorphous companies that are beyond the reach and control of users, and even beyond the reach of courts. When their operations are in an offshore jurisdiction, they are beyond the reach of any local law – because effectively they are above it. Every day millions of expired or unclaimed digital assets fall into the hands of these off-shore service-providers. Your valuable assets have now become lossets.
It is essential that you arrange for the safe, smooth and speedy transfer of these assets to your beneficiaries, without interference from third parties and without the risk of losing access to them. eWill was designed to accomplish precisely this objective.
The Accelerating Shift from Physical to Digital Assets
We are increasingly storing the wealth accumulated during our lifetimes in digital form online. Likewise our life-stories and indeed our lifestyles are recorded and driven digitally, by our online presence. Eventually, as our physical assets gain a digital identity, we will store just about all of our assets – or at least the access rights to them - in digital form. It is essential that each of us has an effective, secure system to ensure our inheritance plan is properly implemented after we die and that our digital assets – or access to them - are transferred smoothly and quickly to our beneficiaries.
eWill was designed to accomplish precisely this objective. We developed the eWill platform because we believe that in the Internet Age having access to a digital inheritance system is not just a market need – it’s a human right. So, unless you opt for enhanced services or additional storage, we provide the basic asset-beneficiary delivery package including multiple eWills to users for free. Users pay only when they opt for additional services - like enhanced verification, witnessing, notarisation, or extra storage (for large files like HD videos, for example.)
The digital financial assets we accumulate are increasingly front of mind – like cryptocurrencies, digital wallets, online bank accounts, PayPal, domain names, shopping accounts, loyalty programmes, etc..
The social assets we have built are also dominant in our daily lives – our social media accounts, memberships, subscriptions, mail addresses, etc.. They may be more of sentimental value rather than financial, but are still hugely valuable as a legacy to your loved ones. They are your present for the future.
Ultimately access to, or rights over, all of your “conventional wealth” – that is, your physical assets - will be stored online. All of your wealth, all of your assets (or at least access to them) is moving online. For the sake of your family and beneficiaries, it is essential that you start to build a digital inheritance plan. You can ensure that it is implemented properly by using eWill, because the traditional inheritance process was not developed for digital.