One of the biggest advantages of the Internet has been the ability for the average person to build an online business. People can earn income through websites by selling physical products, ebooks, and services. Some people even earn a decent amount of income just from advertising revenue. These things are all digital assets, and simply setting up the website could potentially earn the site owner income for years to come.
What Happens After Death?
When a person has a more traditional brick-and-mortar business like a restaurant or a dry cleaner, it's common for that person to pass the business on to loved ones. The spouse or children can then decide whether to continue running the business or to sell the business at a profit.
The same thing could happen with digital assets. If you've spent time building up an online business, you want your loved ones to benefit from that. Fortunately, it's become much more common for people to see the value in this type of commodity, and to plan ahead for transferring ownership of these assets.
How Can You Transfer Digital Assets?
It's important to consider your digital assets when you're writing your will. Think about which of your descendants will best be able to continue this legacy in the way that you'd want it to run. Consider training this person while you're still alive or creating a detailed document with instructions for keeping the business going. This should include things like important contacts and passwords for all of the websites the person will need to access.
Digital asset management is a relatively new field, and it's smart to work with a company that understands all of the complexities. At SafeBeyond, we can help you properly plan for transferring digital commodities to your loved ones after you're gone.