Dealing with someone’s estate can be a burdensome task and at the same time you are faced with the ever expansion of the modern world and you now have to consider “Digital Assets”.
So what is a digital asset? It is simply personal property stored in digital form whether that be electronic or online and you may not realise that you own digital assets until examples are given. These would include:
Information or data stored on your computer, laptop, tablets, hard drives, flash drives, smartphones, digital cameras. This also includes information or data stored online or in the cloud.
It will include emails, photographs, music and social media accounts such as Facebook, Twitter etc. Some digital assets may hold money such as PayPal, online gaming accounts, online shopping accounts such as Ebay and bitcoin to name a few.
In order to assist your Personal Representatives, you may wish to leave a side letter to accompany your Will, listing all your digital assets, providing usernames and passwords so that your Personal Representatives may access the same. You may also wish to stipulate how your digital assets are dealt with.
Similarly, during your lifetime, your Attorneys/Deputies should have access to the same information.Find out more about our Trusts & Estates department