ACCOUNT GUARDIAN |
| Entrustet's Account Guardian is Entrustet's flagship product. It allows users to make a secure list of all of their digital property, designate heirs and an executor and decide which assets are transferred to which heir and which assets are destroyed after users die. For more information on how the Entrustet Account Guardian can help you protect your digital assets, please click here. |
ASSET |
BANK LEVEL SECURITY |
| Anything tangible or intangible that a person possesses. Assets are broken down into three categories: tangible, intangible and digital. Tangible assets are things like a house, car, savings account and family photos. Intangible assets are copyrights, patents or anything else that you can't hold in your hand. Digital assets are electronic assets that are stored on your computer or are stored on the Internet on a website. They include things like Facebook profiles, business documents, family photos, domain names, websites and online businesses. |
Entrustet uses 256-bit SSL certified by Verisign to encrypt all of your private data. All Entrustet data is stored on secure servers in secure locations, only accessible to system administrators. All of our employees pass financial and criminal background checks before we hire them. |
CODICIL |
DATABASE ENCRYPTION |
| A document that amends rather than replaces a previously existing will. One way to integrate your digital property into existing estate planning documents is to take your DPP list generated by the Entrustet Account Guardian and attach it to your existing will as a codicil. |
Our database that stores your personal information is fully encrypted. This means that we store each piece of data uniquely and with a different 256-bit encryption key, making your data even more secure than the data that is stored on your online banking account. |
DEATH CERTIFICATE |
DIGITAL ASSET |
| A death certificate is a document issued by the government that serves as the official record of a person's death. Many times, it is required by each company to access a deceased person's digital property. |
Digital assets are electronic assets that are stored on your computer or are stored on the Internet on a website. They include things like Facebook profiles, business documents, family photos, domain names, websites and online businesses. |
DIGITAL EXECUTOR |
DIGITAL HEIRLOOM |
| A Digital Executor is a trusted friend or family member assigned to manage the responsibilities for digital assets after death. While the executor can also manage these duties, Entrustet highly recommends the digital executor you select be reasonably technology-savvy; identifying a separate Digital Executor also divides the amount of work related to finalizing the estate. |
A Digital Heirloom is a service provided by Entrustet that allows you to leave an heirloom to a specific family member or friend. Entrustet Heirlooms allow you to upload a message, photos with captions, recipes and even a video so that you can give that special message to someone you care about. Click here to find out more information. |
DIGITAL LEGACY |
DIGITAL PERSONAL PROPERTY |
| The way your family and friends will remember you through digital photos, files, and other online traces after your passing. For more interesting reading on Digital Legacy, please refer to the Digital Beyond. |
Digital Personal Property refers to one's digital assets. Digital assets span almost everything on a person's computer, Internet-based accounts and memberships, and digital material like photos, videos, blogs and more. (Financial and investment accounts are exceptions, based on estate law.) |
DIGITAL PERSONAL PROPERTY LIST (DPP) |
ESTATE |
| A Digital Personal Property (DPP) list is similar to a Tangible Personal Property (TPP) list, but covers digital assets such as photos, videos, accounts and memberships, domain names and more. Entrustet's Account Guardian is a secure, helpful tool that creates a DPP list of your assets, with instructions for each, which must be integrated into new or existing estate planning documents by an attorney or via a trusted, do-it-yourself online legal resource. |
The sum of a person's assets, legal rights, interests and entitlements to property of any kind, less all liabilities. |
ESTATE PLAN |
ESTATE PLANNING |
| An estate plan is the end product of the estate planning process. It is usually in the form of a will or a trust. |
The pre-death process of organizing and planning for the disposal of an estate and all the assets it contains. Until recently, estate planning included only tangible and intangible assets; with Entrustet, consumers can easily include ever-increasing digital assets and ensure they are deleted or transferred according to their wishes. Typically, estate planning lawyers are employed as specialists in the estate planning process and in creating document wills and trusts. |
EXECUTOR |
FINANCIAL ACCOUNT |
| The person, typically a family member or close friend, who the testator (will writer) names to carry out the directions in the will. Historically, the executor was required only to handle tangible and intangible assets. With the introduction of digital assets into estate planning, the executor can also serve as the Digital Executor or a separate individual can be named. |
A financial account is an account that deals with money and is issued by a financial institution like a bank, brokerage house or investment company. Legally, Entrustet can only allow customers to include financial accounts in the list of digital assets, but without associated passwords, as these accounts are covered under existing estate planning documents.
For more information on how to protect financial accounts, contact your lawyer or certified financial planner. If you do not have a lawyer, view the Entrustet Lawyer Directory to find a knowledgeable lawyer in your area. |
HEIR |
HIGH INTERNET WORTH INDIVIDUAL (HIWI) |
| An heir is the person who has been identified as a recipient of one or more assets from a deceased's estate; heirs are listed in the will or a trust. |
HIWIs, pronounced "high-whys", are people with high Internet worth. Based on high net worth individuals with over $1mm in assets, HIWIs have significant digital assets. One does not have to be right to be a HIWI. Anyone with many digital assets is a HIWI. |
INCAPACITATION |
INTANGIBLE PERSONAL PROPERTY |
| A legal term referring to a person’s inability to make his or her own decisions and enter into legal agreements while still living. Common causes of incapacitation include a stroke, car accident or any other event that leaves someone highly disabled or in a coma. For more information on why it is important to protect your digital assets in the event of incapacitation, click here. |
Intangible personal property includes those assets that represent something of monetary value, but cannot be physically touched or moved; these include stocks, securities, financial accounts, and other negotiable instruments. |
LAWYER |
LIABILITIES |
| A lawyer, also known as an attorney, is a legal professional who is licensed to practice law. |
Any obligation arising from a past transaction. Examples are a mortgage, credit card debt or other loans. |
LOCAL VITAL RECORDS OFFICE |
PROBATE |
| The local vital records office is the location in your state that holds birth and death records. There are usually three to four per state. |
The legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under a valid will. During probate, the court nominates an executor or personal representative to handle the distribution of property and any claims that arise against the estate. |
POWER OF ATTORNEY |
SECURE SOCKET LAYER (SSL) |
| A power of attorney is a legal document that allows someone to act on the behalf of another in legal or business matters. Power of attorney letters are important in the case of incapacitation. For more information on how to protect yourself with a power of attorney letter, please contact your lawyer. If you do not have a lawyer, please view the Entrustet lawyer directory and we will help you find a lawyer in your area. |
SSL is what makes your browser say "https" instead of "http". This means that your data is securely encrypted when it is being sent over the Internet. Entrustet encrypts your data using a 256-bit SSL anytime you are transmitting any information to or from your account. |
TANGIBLE PERSONAL PROPERTY (TPP) |
TANGIBLE PERSONAL PROPERTY LIST (TPP) |
| Tangible Personal Property (TPP) are those physical assets that can be easily moved, as opposed to real estate. Examples of tangible personal property include jewelry, furniture, art, written materials, and household goods. Tangible personal property is covered in a tangible personal property list attached to a will. |
A TPP is attached to a will with a list of all tangible personal property. It lists property and what should be done with it upon death and is only legally available in certain states. If you would like more information, please contact your lawyer or refer to our lawyer directory. |
TESTATOR |
TRUST |
| The testator is the person whose estate is covered in the will or trust. When the testator passes away, the estate is managed according to instructions in the estate planning documents. |
A trust is an estate planning document that allows an entity (the trust) to manage property while the person is living or dead. One advantage of a trust over a will is that trusts do not have to go through probate, and there are many different kinds of trusts. To determine what the ideal estate plan is, contact an estate planning lawyer in your state; if you do not have an attorney, the Entrustet Lawyer Directory can help locate an expert in your area. |
WILL |
WRITE ONLY SECURITY |
| A will is an estate planning document that lays out a person's wishes related to his or her personal property as well as names an executor to manage details of the estate after death. As opposed to a trust, when someone with a will dies, the estate goes into probate. |
Entrustet uses "write only security" to protect customer information, which means certain information added to an account is not viewable by the customer at a later date. This security measure protects against the unlikely event a lost password or other event compromises account access. Most importantly, write only security ensures that, even if someone were able to get into your Entrustet account, they would not be able to access any usernames or passwords, thereby helping to prevent further issues. |
