It’s in our very nature as humans to overthink certain aspects of our lives to the point of hurting ourselves or ending up in a worse position. Whether it’s not speaking up in class despite knowing the answer – for fear of everyone else’s reactions – or not applying for that open position – thinking we aren’t fit for the job – most of us have experienced several of these moments. And it’s never to our benefit.
Thinking we don’t need a digital legacy plan because…
- we think we don’t have enough assets
- we think it is just not for us
- none of our friends and family members are doing it
is no different. Finding excuses for not creating your digital legacy plan will simply leave you in a worse position. As long as you have any assets, you should create one now. Below we’ll explore some of the most common misconceptions that leave people thinking they don’t need a digital legacy plan.
I don’t have enough assets / I’m not rich enough
This has to be the biggest misconception and excuse for not having a digital legacy plan. If you have even one digital asset, you need a digital legacy service. In our specialized article on the topic, we thoroughly covered everything you need to know about digital assets, so we won’t get into too much detail here. Regardless, it’s enough to mention that even your passwords for social media accounts are digital assets, let alone cryptocurrencies, treasured family photos and videos, electronic bank accounts, etc.
So instead of thinking you don’t have anything that needs digital legacy protection, start protecting your assets today.
I’m single and don’t need to think about this
Regardless of whether you’re single now or prefer to stay that way, the number of digital assets you’ll obtain will only increase, and they will need protection. Should you choose to find a partner, you’ll soon find yourself focused on completely different aspects of your life and protecting your digital assets will land firmly on the back burner. That will only make things more difficult to handle at a later point; the easy way to avoid that in the future is to start thinking about those things now.
I haven’t decided what to do
Not knowing every intricate detail of something is not the same as not knowing anything about it. Even if it’s broad strokes such as “I want my wife to inherit my stocks portfolio” or “I want my son to inherit my crypto assets,” you have a starting point that’s good enough. As with everything, you need to start from somewhere, regardless of where that is. And soon enough you’ll find that you know exactly what you want to happen with your digital assets, which will bring you immense inner peace.
What makes it even better is that once you get the process going, adding new assets to your plan becomes a trivial task.
My family will sort it out / I don’t want to think about being gone
This misconception is particularly dangerous for one key reason: most of the services or institutions holding your digital assets will either not find out about your passing or are not obligated to inform your family. That means all your assets – everything you’ve worked so hard for – might never reach your family or reach them only after many years. The fact your loved ones will be going through one of the worst – if not the worst – times of their lives, mourning your loss, makes such a turn of events even worse than it already is.
So while there’s legislation in place that attempts to connect your loved ones to your assets after you’re gone, the process is far from efficient and straightforward.
Now’s not the best time
Regardless of why you think that – whether you’re going through a rough patch at work, caring for a sick family member, or having a baby – this is exactly what it sounds like: an excuse. By waiting for some undefined future point before creating your digital legacy plan, you’re exponentially increasing the effort you’ll have to put into this activity later on. This doesn’t mean removing your focus from the things that matter the most right now; it is just saying that by spending a little effort now, you’ll save a lot of time and energy later on, both for you and your family.
Creating a digital legacy plan is too costly
Though it sounds like a complicated process, it’s actually not, and there’s a lot of help you can get to create a digital legacy plan that best fits your unique needs. The services out there that can assist you cost little to nothing, some having a forever-free tier, and will help you ensure the future of your digital legacy.
We at DGLegacy® are the leaders in digital legacy planning and possess the right tools and resources to help you at every step of the way. All it takes is to get started by creating an account with us and becoming a member.
We’ll take it from there!