Angela Campbell, CPA •
This world is becoming more and more digital every day. Technology is changing at such alarming rates that it is difficult to keep up sometimes. Many of us have Facebook accounts, LinkedIn accounts, Apple Icloud and other online storage accounts. Instead of cash, checks, and credit cards many people are using Venmo or Zelle to pay their bills. Virtual currencies like Bitcoin are being bought and sold for investment purposes as opposed to stocks and bonds. Purchases are made with virtual currencies and valuable website domains have ongoing subscriptions that may lapse if no one knows their value or even that they exist. Have you ever pondered what happens to the information stored in your online accounts or what will happen to your bitcoin investment if no one knows where to look for it when you become incapacitated or pass away? Are there accounts opened out there in the black hole of the internet that you may not want anyone to see or know about? What will happen to that information when you are gone?
This world is becoming more and more digital every day. Technology is changing at such alarming rates that it is difficult to keep up sometimes. Many of us have Facebook accounts, LinkedIn accounts, Apple Icloud and other online storage accounts. Instead of cash, checks, and credit cards many people are using Venmo or Zelle to pay their bills. Virtual currencies like Bitcoin are being bought and sold for investment purposes as opposed to stocks and bonds. Purchases are made with virtual currencies and valuable website domains have ongoing subscriptions that may lapse if no one knows their value or even that they exist. Have you ever pondered what happens to the information stored in your online accounts or what will happen to your bitcoin investment if no one knows where to look for it when you become incapacitated or pass away? Are there accounts opened out there in the black hole of the internet that you may not want anyone to see or know about? What will happen to that information when you are gone?
