Entrustet offers a free account that lets you set up unlimited password-protected accounts to be transferred over to a trust person upon your passing. How does it know when you’re gone? You assign a trusted person to be your Digital Executor, who will notify Entrustet and then provide a death certificate scan to activate the password conveyance upon your death. You can also assign your estate attorney to execute your Entrustet transfer upon your death, and the site offers up a few attorneys officially on board with Entrustetâ€”though we imagine any savvy attorney can be conscripted for the duty. Additional security and ease-of-use features (for the executor and recipients, at least) are included with paid plans.
You can check out the Fox Business Live interview below:
â€œIt is crazy that websites donâ€™t have policies for this,â€ says Jesse Davis, founder of Entrustet, another US-based internet service for managing digital inheritance. â€œPeople are spending real money on these accounts. They are economically or sentimentally valuable. They are real assets and itâ€™s a shame they are being overlooked.â€
Entrustet is planning to launch full services at the end of this month and has already seen high levels of interest in its beta version. About 20 per cent of visitors to the site have signed up for an account.
According to Entrustetâ€™s Mr Davis: â€œA lot of lawyers donâ€™t know what to do with digital assets. When we started talking to estate planners about it, they looked at us like we had five heads.â€