Death, taxes and the internet

Lifestyle

Death, Taxes, And The Net: Living With All Three

May-16 2021

New GoodTrust services to protect over the long term

Not that anyone wanted or needed reminding - but Tax Day is May 17 following an extension by the federal government to allow people more time during the pandemic. And not only do the vast majority of Americans file their taxes online (upwards of 90%), but watchdog groups also actually recommend against filing a paper return because of the potential delays and complications. Another sign that death, taxes, and the internet are inextricably linked.

Our mission remains to protect anyone's digital legacy and we're slowly expanding into more ways to create it as well. We see GoodTrust as a long-term vision. After all, as with death and taxes, there's no sign the Internet will disappear either.

Pause and take stock

It's also a moment to reflect on your digital life overall - what's your level of awareness with everything you've ever created online? What if something happened to you - would your loved ones know where to find it all? Is it possible that thousands of dollars could be trapped in accounts after your passing and no one knows about it (maybe not even the IRS)?

Perhaps think of Tax Day as an opportunity to do an audit of your own digital life and legacy. Sign in to your GoodTrust account and ensure all the options are selected in terms of what you want to pass on or share or even delete. It's also the perfect time to designate a Trusted Contact (e.g. friend or family member) to ensure your GoodTrust account doesn't remain dormant after all that work putting it together.

Where to begin?

Start by asking yourself these questions:

  • Does someone in your life know how to access all your devices and financial accounts after you pass away?

  • Do you have a will in order to solidify your wishes upon passing?

  • Have you provided the necessary passwords to someone you trust?

  • What is the value of all your digital assets like cryptocurrency, banking accounts, domain names, gaming portals, etc.?

  • And what about all the priceless stuff like photos and emails and other documents?

Then it's time to get started. No one wants to think about death or taxes but we think about the internet in some way virtually every day and spend most of our lives on it. Use this milestone moment in life to take 10-15 minutes and set up everything you need to do in your GoodTrust dashboard.