“Digital Assets” means everything of value you keep online, like your email address, domain names and websites, your PayPal account and other digital wallets, and even your social media accounts.

Over the last 10 years, people’s lives have been radically transformed by the online systems they use constantly. There is huge – and increasing - financial and social value stored in these non-tangible assets, and of course you want this wealth to end up in the hands of your loved ones. Most of us haven’t made a proper digital inheritance plan for this digital treasure, and using a physical will may not be at all appropriate.

There are two problems with trying to transfer digital assets in the conventional way, ie, via the physical will-executor-probate process. First, they won’t get to your beneficiaries in time; and, worst case, they may not even get there at all.

For time-critical digital accounts, you would want your inheritors to get immediate access, especially if you died unexpectedly. Your social media or mobile phone might be the only way that your loved ones can contact your friends and partners after you’ve gone. Access to accounts such as your company email or website will be essential for anyone who takes over the running of your business after your death. The family may need to draw money urgently from your online bank account. So a fast, efficient and safe transfer mechanism is needed to deliver access to your accounts to the people you want.

Apart from your assets not getting there in time, the second problem is the risk that they won’t get there at all. Millions of digital assets and internet accounts get lost every day, when either they expire or you expire. What happens to them? Where do they go? The short answer is that they end up in the clutches of the multinational data corporations which hold them in off-shore jurisdictions where your physical will has no standing and your local court has no authority. The giant data corporations – effectively beyond the law - promptly pocket the assets or re-sell them at a huge profit.
The re-sale value of expired domain names each year is estimated at well over USD 1 billion – all going into the coffers of the domain registration agencies. The dollar-value of credit balances being “inherited” by payment gateways like PayPal is not disclosed, but if they follow the pattern of traditional banks, the cash-value recovered from expired accounts amounts to a significant chunk of their annual profits. These are all precious assets which should instead have gone to your designated beneficiaries: your family, friends and business partners.

And when is the danger of a failed inheritance plan greatest for the unwary digital asset-holder? At the asset-holder’s death, of course. When his affairs are all up in the air; when his family and friends are paralysed by grief; when the plonky 4-month probate process is just starting its cumbersome progression. And when the avaricious data corporations and ruthess service-providers are trawling their user databases 24/7 to scoop up any accounts they can find that are unattended - because their owners have just kicked the bucket.

At last, eWill.org - an online service that makes sure your Digital Assets get transferred safely and swiftly to your loved ones.

eWill.org is a new online system, designed specifically for digital assets, to make sure they don’t get lost or critically-delayed when you die. This new electronic will-and-inheritance system is appropriately called eWill, a web-based platform that automatically distributes your online assets to your beneficiaries immediately after your death is verified.

eWill addresses the two fundamental inheritance problems by putting your digital assets into an electronic will, not a traditional physical will. Then the asset-beneficiary transfer process takes place in the cloud, where the assets are, and not in a local probate court, where the assets are not. And, unless you have selected any paid-for options, this online transfer/delivery process (of videos, etc.) is free.

The platform offers many more innovative services, all implemented automatically, after your death, in accordance with your final instructions. These include online delivery of video greetings to your loved ones on their birthdays in years to come; parting words of wisdom to your workmates; and final goodwill messages to your broader circle of friends.

For high-value and super-sensitive assets, eWill also offers an advanced encryption option, which promises “impenetrable triple-factor security”. It sounds impressive, but the logic behind it makes sense and it seems to deliver: when you test out the encryption/decryption procedures, they work seamlessly.

But the breakthrough benefit of the eWill system is that it was designed specifically for digital assets, to get them directly into the hands of your beneficiaries, precisely when they need them. The time-critical assets are delivered pretty much immediately after verification of your death, whether it’s a mobile phone for your family member or an email account for your business partner. The automatic delivery system makes sure the assets get to where you want them to go, instead of getting lost in transit. They’ve even coined their own catch-phrase to warn you of the dangers of passing away unprepared: “Don’t let your digital assets become lossets”.

Overall, It’s an impressive website: eWill’s innovative platform does seem to offer a flexible, convenient and secure system to address the weaknesses of the conventional inheritance process. Best of all, you can test-drive and use it for free.

Source:eWill.org