{"id":2098,"date":"2024-06-10T12:00:21","date_gmt":"2024-06-10T12:00:21","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/?p=2098"},"modified":"2025-02-17T21:38:52","modified_gmt":"2025-02-17T21:38:52","slug":"your-digital-footprint-dont-overlook-its-value","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/2024\/06\/10\/your-digital-footprint-dont-overlook-its-value\/","title":{"rendered":"Your Digital Footprint: Don\u2019t Overlook Its Value"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

\"Digital<\/a><\/p>

In estate planning, many of us tend to focus on assets with tangible value, such as investments and real estate. Yet, frequently disregarded are many digital assets due to their perceived lack of monetary value. However, a Wall Street Journal article reminds us that these assets may possess substantial sentimental value, and overlooking their transfer can have distressing outcomes. For instance, one widow was unable to retrieve thousands of photos stored on her partner\u2019s cloud account. Another wasn\u2019t able to access her late husband\u2019s Facebook profile.1<\/sup><\/p>

It is becoming increasingly important for loved ones to know how to access digital accounts to safeguard important information. Canada doesn\u2019t have consistent legislation giving the executor\/attorney automatic authority to deal with digital assets. Rules vary by province, if they exist at all.2\u00a0<\/sup>Yet, even if laws do allow for authority, the reality is that access can be difficult if no provisions have been made by the deceased. Customer support for online accounts is often limited, creating challenges and undue stress during an already emotional time.<\/p>

As such, here are a few steps we can all take today to help safeguard our digital assets and provide future access:<\/p>

Update your inventory<\/strong> <\/span>\u2014 Just as we should keep an inventory of physical assets for estate planning, it is equally important for digital assets with no perceived monetary value. This includes records for digital assets (computers, phones, tablets, etc.) and online accounts (usernames and passwords for each). The list should be updated regularly and securely stored. This not only helps loved ones with access, but also with security to manage, protect or close accounts and destroy sensitive material or information.<\/p>

Safeguard data<\/strong><\/span> \u2014 Protect your data by regularly backing up important files, contacts, photographs and other information stored on your devices. Consider encrypting sensitive data for added security.<\/p>

Consider the use of a password <\/strong><\/span>manage<\/strong><\/span>r \u2014 If keeping an updated list of accounts\/passwords is difficult, consider a password manager. These software programs maintain access information for digital accounts, including account numbers, passwords and other important data you might need to leave behind.<\/p>

Establish a legacy contact or plan<\/strong><\/span> \u2014 Many platforms offer options to designate a legacy contact or create a legacy plan for your accounts. For Apple devices, go to \u201cSettings\u201d and then tap your name. Under \u201cPassword & Security<\/em>\u201d go to the \u201cLegacy Contact\u201d option. The system will generate an access key for your contact, which will need to be presented alongside a death certificate to access data. Google users can access this feature by visiting \u201cmyaccount.google.com<\/em>\u201d and selecting \u201cData & Privacy,<\/em>\u201d then \u201cMore Options<\/em>\u201d and \u201cMake a plan for your digital legacy.<\/em>\u201d You can then decide when Google should consider your account inactive and what will be done with your data.<\/p>

Revisit your estate plan<\/strong><\/span> \u2014 Ensure your will, power of attorney or any other relevant directives include language addressing digital assets. Grant representatives the authority to access, manage, distribute and dispose of these assets accordingly.<\/p>

1. https:\/\/www.wsj.com\/articles\/a-plan-for-your-digital-life-after-death-177b065e<\/a><\/span>
2. https:\/\/dig.watch\/updates\/saskatchewan-ca-introduces-fiduciaries-access-digitalinformation-<\/a><\/span><\/pre>
\"\"<\/a><\/p>
The information contained herein has been provided for information purposes only. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information has been provided by J. Hirasawa & Associates and is drawn from sources believed to be reliable. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual\u2019s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) and the authors do not guarantee the accuracy or completeness of the information contained herein, nor does WAPW, nor the authors, assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.<\/span><\/p>
Insurance products are provided through Wellington-Altus Insurance Inc.<\/span>
\u00a9 2024, Wellington-Altus Private Wealth Inc. ALL RIGHTS RESERVED. NO USE OR REPRODUCTION WITHOUT PERMISSION.<\/span>
www.wellington-altus.ca<\/span>
If you no longer wish to receive commercial electronic messages from Wellington-Altus Private Wealth Inc., please send an email to unsubscribe@wellington-altus.ca<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"
In estate planning, many of us tend to focus on assets with tangible value, such as investments and real estate. Yet, frequently disregarded are many digital assets due to their perceived lack of monetary value. However, a Wall Street Journal article reminds us that these assets may possess substantial sentimental value, and overlooking their transfer can have distressing outcomes. For instance, one widow was unable to retrieve thousands of photos stored on her partner\u2019s cloud account. Another wasn\u2019t able to access her late husband\u2019s Facebook profile.<\/p>\n","protected":false},"author":68,"featured_media":3017,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[40],"tags":[189,18,191,174,190],"class_list":["post-2098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-digital-footprints","tag-estate-planning","tag-legacy-contact","tag-real-estate","tag-safeguard-data"],"_links":{"self":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/2098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/comments?post=2098"}],"version-history":[{"count":3,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/2098\/revisions"}],"predecessor-version":[{"id":2110,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/posts\/2098\/revisions\/2110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/media\/3017"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/media?parent=2098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/categories?post=2098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/towerwealthadvisory\/wp-json\/wp\/v2\/tags?post=2098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}