Charitable digital assets

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Such has the concentration been on the Millennial Generation that the focus has moved away significantly from the most compelling generation, particularly for businesses and charities: the Baby Boomers.

Not just Baby Boomers but, more specifically, Baby Boomer women. Born between 1946 and 1964 this affluent segment wields more spending clout than any other. Many have developed successful careers and made substantial investments during the boom years, and with inheritances from parents and/or husbands, they have become more financially empowered than any other generation of women.

Whilst there might once have been a noticeable digital divide between Millennials and Boomers, that is definitely no longer the case today. Baby Boomers don’t spend vast amounts of time glued to their smartphones or tablets, but they do engage in online communications on a very regular basis. They also download music and films and watch videos online, they use their smartphones as cameras, they purchase goods and services online and they actively search for health information – now the third most popular online activity for all internet users 18 and older.

Yet when it comes to addressing the issue of digital asset protection, the focus, again, has been on the younger generations. Part of the reason for this is the number of children and teenagers who have died leaving their parents with the heartache of trying to access their online accounts.

Baby Boomers too have a digital legacy that is worth protecting. Since Baby Boomers contribute more than 40 percent of all giving, for charities, these digital legacies have the potential for being a source of considerable income. If we take Tim Cooke as an example of generously giving to charities and then extrapolate that out to what his digital assets are probably worth – you can just image how a charity would benefit if he bequeathed them even a fraction of these assets.

Bibic is an ideal example of a charity geared up to benefit from donated digital assets. This may be something few of us think of, yet the value of these untapped assets stretches into billions of pounds.  Now that is something worth considering!

Author: Planned Departure

Living and working in this digital era, our social media accounts – from Facebook, Twitter, Flickr to the likes of Pinterest – are increasing not only in number but also in volume. Additionally, many of us have domain names registered and libraries of movies, digital music and e-Books that can be of significant value. And let's not forget about Bitcoin and other virtual currencies! For the majority of us, these accounts and digital assets are likely to outlive us. And when we die, it is left up to family members and estate executors to sift through them all. Furthermore, even though they may have all the required passwords necessary for these accounts, many heirs will discover that they have no clear authority to access, or even to manage, the online accounts of their deceased loved ones. With the value of individuals' digital assets globally measured in the hundreds of billions of dollars, planning for the protection of our digital assets has moved to centre stage. It is essential that our online and social media accounts are included as part of the estate planning process. Failure to do so may not only deprive those we leave behind of fond memories and (possibly) a little nest egg, it could also leave us vulnerable to postmortem identity theft if fraudsters get to use our personal details to apply for credit facilities whilst our accounts remain unguarded. Planned Departure resolves these issues. We provide you with the ability not only to protect your digital assets, but also to clearly indicate who can access your online accounts and who should benefit from them. Create piece of mind today by registering with us in one quick and easy process.

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