Own a blog? If not, you must definitely be having a basic e-mail id? What about the online banking or credit card account? … Just imagine what happens to the secrecy of log-in and transaction passwords for all these digital assets after you?
Yes, you can now make a ‘Digital will’, like you may have done for the most of your properties, financial assets and other valuables; for all your digital assets such as email accounts, online banking accounts, credit/debit cards, online contacts, digital music or photo collection.
The domain names of your site or blog, and other IDs of social networking sites like Facebook, Twitter or Orkut also can be bequeathed by your willed nominee. You can also make a provision for your PayPal and other online shopping accounts.
According to a this report, a Delhi-based businessman recently approached a lawyer for a digital will to bequeath his email accounts and other digital secrets to his sons. The businessman has bequeathed various different digital accounts where one account has its entire artistic works while others have collection of his audio recordings and autobiography collections.
A digital will allows the successor of the maker of the will to access private mails and other digital archives with the necessary user names and passwords to be provided to the willed nominee after the death of the person.
Under a digital will, the usernames and the password of various digital accounts could be legally inherited by the beneficiary as per the will including the sensitive information related to the contents stored in the accounts, actively and passively managed by you until now.
In the current era where increasing number of transaction are being digitalized, this case of digital will has brought to light a new area of due-diligence which people need to carry out for the sensitive and important documents which may have been stored digitally.
Like other financial assets, even the digital assets need to be appropriately tied up in order to ensure willful inheritance of passwords of online accounts and sites, in the name of desirable nominees.
So when are you going for your “digital will” ?
by Viral Dholakia
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