Digital Assets & Will Planning
Following the Law Society’s suggestion of including ’digital assets’ in a Will, we have put together a brief overview of why it is important to think about this.
Firstly, what are digital assets? Whilst there is no definition of digital assets, they include items such as photographs, videos, online subscriptions, social media, online accounts such as PayPal, emails, and really anything in connection with your online presence. Many people do not consier what happens to your online presence when you pass away and it may be very difficult for a third party to gain access to your accounts. Each company has different requirements for closure by your personal representatives, and it is not always straightforward to gain access to the online platform.
So, how can we help you plan for your digital legacy? If you want to leave details for your relatives on how to access accounts, you may wish to consider placing a letter giving a list of your digital assets with your Will. A Solicitor can advise you of the options available, such as leaving a list of passwords, or advising you on the particulars of each online company’s requirements when you pass away as we are experienced in dealing with some online accounts. We can also help you to work out whether your digital assets may be of any value, for example if you receive royalties from intellectual property and advise of the appropriate way to deal with those either in your Will or otherwise.
We can also give you specialist advice on the succession of digital assets and assist in getting your affairs in order generally. Contact our team of experienced Wills and Probate Lawyers on 0800 015 0340 to review your Will and plan your digital legacy.
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