We are living in the Digital world, most of our business, financial and social communications and its developments are through the internet only. These digital contacts and communication are called us digital Assets or Virtual Assets. In other words, the emails, passwords electronic documents, websites and Blogs, other files either in Web or in Computer is called as Digital Assets.
Suppose the Virtual or the Digital asset holder dies unfortunately all the virtual assets could be frozen, since it could not be accessed by his successor or his legal heirs. Further if the successor wants to access the digital documents and he approaches the court he has to submit the succession certificate and many other legal identity and password which is a cumbersome process. Here I wish to remind you the password are subject to change more frequently. And if the legal heir approaches Google, Yahoo or any other service provider, how they can be judge the claim?
Here the Digital Will helps. Digital Will is an electronic document similar to that of a Physical Will in other words is a Will for a Digital Assets. Unlike a paper will Digital Will, will be stored on a safe and secured service and can be updated easily. Now there are more online service providers are available with competitive tariff structure. As this is a new concept they are now structuring a common procedure to less the pain of the legal heir.
Last but not the least word, there are so many legal issues are there in between Last Will and Digital Will. In England Last Will cannot be replaced by a Digital Will.