The Importance of Considering Digital Assets in your Will

In an increasingly digital age, we lead more and more of our lives online. Despite this, very few people consider their digital assets and digital footprint when it comes to estate planning or writing a will. Digital assets encompass a broad range of possessions from photos, social media accounts, documents and data, to cryptocurrencies and NFTs.

After someone dies, access to their online accounts is controlled by the individual companies who own the platform, who are each bound by their own terms. This means that you would likely find you have to battle for access following a loved one’s death if no provisions have been made.

Being unable to access your accounts can cause unnecessary stress for your loved ones. For example, if they wish to access your online photos and are unable to do so this may cause upset. This concept is known as secondary loss, where they have already lost a loved one and then feel as though they are losing another part of them.

To counter this, organisations have started offering a ‘digital will’ service, helping people to get their online affairs in order. People are additionally advised to make a directory of all their key online accounts when starting to plan their digital legacy, as then someone will be aware of all the online assets the person had.

It may be worth considering appointing one of your executors to take charge of accessing, closing or preserving your accounts. Certain online platforms manage all your passwords and login details, sorting them in the cloud in an encrypted form. This can be very useful for your executors if they have access to it after you pass away.

In addition to ensuring that your digital assets are accessible, you may also wish to write a letter of wishes to set out any specific preferences you may have, for example memorialisation of any social media accounts. This letter can sit alongside your will and offer guidance to your executors.

Writing a will can be a complex process, but at SE-Solicitors our expert lawyers take the time to understand you, your needs and your assets, helping to guide you smoothly forward to achieve the best possible outcomes for you and your loved ones.

For any questions you have about estate planning or writing a will, please contact a member of our team.