Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
From digital assets to financial accounts to sentimental items, here’s what to think about to make sure your loved ones have access to everything they need when you pass away.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Digital assets have been around for quite some time. However, they seem to be dominating headlines again this year. In part, you can thank high-profile figures, such as Elon Musk, for promoting cryptocurrency, or music artist Grimes for selling $6 million in NFTs.
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’
Bitcoin has gone in value from less than one cent in 2010 to a high of $20,000 in 2017, to a value at the end of July 2020 of nearly $11,000. Now the U.S. Congress is holding hearings on the digitization of the dollar, so cryptocurrency has become an increasingly important financial tool for individuals and businesses.