Your Will – What to do with digital assets

Do you have online bank accounts or sold items through ebay or amazon?
Do you use social media, such as facebook or twitter?
Do you know what will happen to your money held in your online accounts should you die?
There are a number of practical problems concerning digital assets:
The first problem is to find out whether or not the testator had digital assets in the first place, and secondly, if the deceased did have digital assets how do you realise them?
The testator, unless very organised, will rarely list his or her usernames, passwords, log in details etc.
So, our advice now is that if you are thinking of making a will, or if you have not, then you should or if you have made a will then you should plan ahead and give clear instructions about what should happen to your social media, computer games and other online accounts after your death.
We advise that when we are drafting wills on behalf of clients they provide a list of their digital assets including providing their usernames, passwords and log in details.
It goes without saying that the list should be updated regularly and should be kept in a safe place (not online) either with the original will or in a safety deposit box.
You could also decide to leave an online account as a legacy.
Having a list of all your online accounts, such as email, banking, investments and social networking sites will make it easier for family members to piece together your digital legacy, adhere to your wishes and could save time and money.
Not making your digital legacy clear could mean important or sentimental material – such as photographs on social networks – is never recovered.
If you have any questions or would like to chat about setting up safeguards for your ‘online life’ please contact Rhys 02920567836 or on rhys@emerituslegal.co.uk

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