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Home | Wills & Estate Planning | Digital Legacy

Protecting your Digital Assets

These days, not only should a person’s physical assets be considered when preparing a will or other estate planning documents; there are digital assets should also be carefully considered.

When a person dies, they usually leave behind various online, digital, social media and/or professional networking accounts such as email accounts, Facebook, Twitter and LinkedIn. It is these accounts and data that should not be forgotten when planning your will and other estate planning documents.

FAQ

What are my digital assets?

What are my digital assets?

Digital assets are any online or digital accounts or data that you own or have rights over. These assets are different to your personal property or real estate, as they may not have any physical presence.

Some examples of digital assets are:

  • emails, blogs and data stored online or in the ‘cloud’;
  • social and professional networking accounts;
  • online bank or shopping accounts, such as Ebay, iTunes or PayPal;
  • online businesses, domain names and hosting;
  • digital currencies, such as Bitcoin.

Why should I plan for them?

Why should I plan for them?

It is important to think about what you would like to happen to your digital assets when you pass away.

Digital assets can have both sentimental and financial worth, and so planning for them now assists your executor (the person who carries out the instructions in your will) to access those assets and deal with them in accordance with your wishes.

Planning for digital assets can also:

  • reduce risk of identity theft;
  • prevent family members fighting over your digital assets;
  • allow others to take over or manage online accounts and businesses;
  • keep memories alive, by allowing digital assets to be printed or otherwise converted into a physical form, such as printed photos or writing.

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