Posted 28 Apr, 2025

Planning for Digital Assets in Your Will

We live in a fast-evolving digital world. Most everyday life revolves around accessing general services online or communicating via digital social media. Generally, services and communication by means of digital sources lead to holding digital assets. So, what happens to possessions which exist in a digital format when you die? Such assets can be sentimental, while others can be income-generating, and there can be major consequences if we do not consider ways in which they can be protected following our death, they could simply get lost forever or fall into the wrong hands.

Our private client specialists can advise you on how best to protect these assets after your death.

Protection Starts During Your Lifetime

Our Head of Private Client explains that protection starts during your lifetime and advises all clients that they should prepare a list of all their digital assets, with details of the login information required, and store them in a safe place. Joanne explains that this information can be stored with your Will, which enables Executors to access the information upon your death. For assets of a sentimental nature, such as photographs, Joanne advises that these should be backed up with hard copies or additional digital copies to ensure they are not lost.

Decide What Happens to Each Digital Asset

Once the list of assets has been prepared, you should then consider what you want to happen to them following your passing. This may vary depending on what the asset is. For example, you may want to nominate a person to continue updating your social media accounts for a period of time after your passing.

Who Needs Access — And How?

It is also important to consider who may require access to digital accounts, such as bank accounts, following your passing. In this ever-evolving society, banking is becoming more technologically advanced, with some providers only offering digital accounts. So, what happens when you pass away? How can your Executor gain access to these digital accounts immediately after your death? You should consider giving your Executor the vital access information and instructions as to what your wishes are.

Understand the Limitations of Digital Asset Transfer

When making provision in your Will for your digital assets, what should you consider? Firstly, it is important to consider any terms and conditions linked to the asset. For example, some assets may not be transferrable on death. Some social media accounts cannot be transferred. For example, Facebook allows you to appoint a legacy contact to turn your account into a memorial account; the person appointed can post information onto the account but cannot access your personal information. Meanwhile, other social media platforms merely delete the account once they are notified of someone’s passing.

What Happens If You Don’t Make Provision?

If you do not provide for your digital assets in your Will, then your digital assets will form part of your residuary estate. If there is value to your digital assets, they may also need to be disclosed to HMRC.

If you do not have a Will, then your digital assets will be distributed in accordance with the rules of intestacy. The rules of intestacy (link to the intestacy rules blog) provide an order for how your estate is distributed on death. So, not making provision can result in these assets passing to the wrong people.

Make Life Easier for Your Executors

Your Executors will appreciate you if you make things easier for them. However, their responsibilities will vary depending on what asset it is. For example, with digital banking assets, there will be a series of encrypted passwords and memorable information required to access them. If your Executor doesn’t hold this information, it will be necessary for them to contact the companies concerned — and more often than not, they have strict rules on how accounts are accessed. They may find it difficult to obtain vital information.

How Can We Help?

Our specialists can assist you with making a Will and give you professional advice on how to ensure your assets are accessible upon your death. Please call us today.