Why digital asset management matters

Effective management of digital assets enables individuals to seamlessly organise and oversee their digital legacies. This ensures smooth handling even after they have passed away. 

In an age marked by constant technological evolution, our lives are deeply interconnected with digital platforms. Whether it’s treasured photographs, vital financial records, or cherished memories stored online, our digital footprint carries significant weight. 

Continue reading to discover why digital asset management is crucial and explore essential considerations to take into account when embarking on digital asset planning. But first, what is digital asset management? 

What is digital asset management? 

Digital asset management generally refers to the broader practice of organising, storing, and managing digital assets during a person’s lifetime or within an organisation. It involves processes and systems for efficiently storing, retrieving, and sharing digital assets such as images, documents, videos, and other media files.  

While digital asset management can include considerations for managing assets after death or incapacitation, its primary focus is often on the organisation and accessibility of assets while the individual or organisation is still active. 

Here are key reasons why digital asset management matters: 

1. Safeguarding digital assets:

Digital assets encompass a wide array of valuable possessions, including personal memories, financial records, and online accounts. Without proper planning, these assets risk being inaccessible or lost forever, underscoring the importance of proactive management.

 2. Managing online presence:

Social media profiles, email accounts, and other digital footprints last beyond one’s lifetime. Digital estate planning enables individuals to dictate how they wish their online presence to be managed, whether it involves memorialisation, deactivation, or deletion of accounts. 

3. Mitigating legal complexities:

In the absence of clear directives, managing digital assets can pose legal challenges for family members. Digital estate planning provides a roadmap for navigating these complexities, thereby minimising legal hurdles and ensuring a smoother transition of digital assets. 

4. Protecting privacy:

Without adequate safeguards, sensitive information stored online may be susceptible to unauthorised access. Digital estate planning allows individuals to designate trusted individuals to manage their digital assets, safeguarding their privacy and preventing potential identity theft. 

A Guide for Anton Brown Funeral families: key considerations for digital assets management 

When embarking on digital estate planning, it’s essential to consider the following factors: 

1. Comprehensive asset inventory:

Begin by compiling a detailed inventory of all digital assets, including online accounts, passwords, and electronically stored documents. This comprehensive approach ensures that no valuable assets are overlooked during the planning process. 

2. Selection of digital executor:

Similar to a traditional executor of a will, a digital executor is entrusted with executing the individual’s wishes regarding digital assets. Choose someone who possesses both trustworthiness and technological proficiency to manage your digital estate effectively. 

3. Clearly defined preferences:

Articulate your preferences for each digital asset, outlining specific instructions for accessing accounts, managing social media profiles, and distributing digital content to designated beneficiaries. 

4. Secure storage solutions:

Utilise secure storage solutions, such as password managers or encrypted files, to store your digital estate plan and essential login credentials. Ensure that these resources are readily accessible to your appointed digital executor. 

5. Regular updates:

Given the dynamic nature of digital assets, it’s crucial to review and update your digital estate plan regularly. Update passwords, account information, and contact details for your digital executor as necessary to maintain relevance and effectiveness. 

Why Digital asset management matters 

By dedicating time to craft a comprehensive digital estate plan, individuals can safeguard their digital legacies and ensure that their wishes are honoured.  

At Anton Brown Funerals, we recognise the significance of digital assets management and are committed to guiding our families where to find valuable resources on this essential process. Contact us today to explore our funeral planning and pre-planning services.