We are spending increasing time online and it is therefore crucial that digital assets are addressed as part of making a Will and estate planning. Digital assets can include cryptocurrencies, social media accounts, e-mails and photographs and it is important for clients to consider what should happen to those assets on their passing.
It is worth taking time to create a digital assets log with details of any accounts and information on how to access them. It may also be worth writing a letter of wishes setting out any specific preferences e.g. memorialisation of accounts such as Facebook.
From social media and email accounts to cryptocurrency and photographs, digital assets are now an important part of people's lives. But what happens to these assets when someone dies or is incapacitated?
https://www.step.org/research-reports/digital-assets-call-action
