Once you receive your Digital Asset Authorization ("Authorization") and review it for correctness and accuracy, the next step is to determine how you add your signature. The addition of your signature serves as evidence that the document represents your wishes and directions. What are your options and the benefits and disadvantages of each method of signing to make this a legal document?
Simple Signature
The easiest way to add your signature is to simply sign the document and store it with your other important papers. The benefits of a simple signature are easy to understand – it’s free to sign and only takes a few moments. The disadvantages are more technical in nature but of significant importance.
Disadvantages
- Potential for Fraud - A notary adds a layer of verification that you signed the Authorization on a specific date and you are who you say you are.
- Potential for Doubt - Without an independent witness, there is no way to verify that you signed the document of your own free will.
Notarized Signature
A notary public assures all parties that a document is authentic, its signature is genuine, and the signer did so of their own free will. You must sign the Authorization in the presence of a notary public upon their direction to do so.
The benefits of notarizing your Authorization address the disadvantages introduced by a simple signature without a documented witness.
Benefits
- Deter Fraud - Notarization adds a layer of verification that you signed the Authorization on a specific date and you are who you say you are.
- Self-Authenticating - Ensure a fiduciary, online service provider, and/or probate court that you signed the Authorization, it represents your wishes, and you signed under your own free will.
The disadvantages of having your document notarized reflect the advantages of a simple signature – there is a cost for the notary’s service (determined by the state) and it will take additional time.
Other Considerations
One your Authorization is signed be sure that a trusted individual and the person(s) ultimately responsible for settling your estate know where to find your important documents.
