helloI’m David Clark and welcome to the Turcan Connell videocast on digital assetsand how they can past on in your legacy. Obviously, this is a very fast-movingarea,the whole area technology. I’m here with one of Turcan Connell’sexperts on this issue, Catherine Guthrie. Catherine, can you tell me, what are digital assets and how can they be managed, basically?Well, essentially, a digital asset is anything that could stored in a binary format andcomes with a right to use. So, that could be your email accounts,your social media accounts, photo-sharing accounts and the things that you’d storein these online accounts; so your web documents, your photos themselves, your videos. Some ofthese will obviously have a monetary value like the balance of yourPayPal account,some of them have sentimental value which you’ll want somebody else to benefit fromand some of them just contain a bit too much information to the leftforever and ever. So that’s things like Facebook and things like that? We’veheard a lot about that in the news about people -their Facebook account going on after after they die. Yes and that’s a very current issue. Facebookrecently announced that they’re going to introduce way to memorialiseyour Facebook account. So, rather than it simply being like to continue,it will be updated to show that you have died andyour friends and family will be able to continue to post olike a online memorial to you. So, can digital assets be passed on to someone else? Wellit really depends on the Internet Service Provider involved. Most people, when they sign up to an online account,they’ll tick the box to say they’ve read the terms and conditions. These terms and conditionsusually do contain something about itwhat will happen to that acoountwhen you die. So, in most cases, itsa case of going back to those terms and conditionsand seeing what they say. For example, in your iTunes and Kindle account, youdon’t own that content. You’re effectively only leasing itso you can’t pass that on to somebody else; while could pass on the physical thing,can’t pass on the content. Other things like gaming credits, for example,can usually be passed on fairly freely so it does just dependwhat the asset is. So, how shoulddigital assets be dealt with when somebody dies? Well, the first thingyou really need to do is keep it clear record of what accounts you have and theaccess details – the username and password. You can do this onlinethrough an online safety deposit box or you can simply do it in that paper formatat so long as you keep it up to date. And then,as with any succession planning, you need to decide who’s going to benefit. And the simplest way to make your wishes known is to simplyput a digital asset clause into your Will. This could allow your executors the discretionas to who should benefit or it couldbe a lot more prescriptive and detail very specificallywho should get what. The other thing you probably do want to consider iswhether to appointa separate digital executor or whether you just want to make sure that one ofyour appointed executivesis digitally literate so that they will be able to carry out your instructions. Thanks very much, Catherine. So, for more information on digital assets,or Wills and legacies in general, go toturcanconnell. com

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