BTO Personal
Wills, Succession and Estate Planning
Digital Assets
At the risk of stating the obvious, we are becoming increasingly reliant on digital technology to carry out everyday activities and this has inevitably led to the digitisation of our content e.g. photos and music, our accounts e.g. banking and social media, and even our assets e.g. PayPal, iTunes, Bitcoin etc.
Despite this rapidly changing culture, there are very few clients who have considered what would happen to their digital estate on their death. And, unfortunately, it is becoming a growing problem in estate administrations.
Top Tips to Deal with your Digital Estate
Make a list of your online accounts. This is a great starting point for you to consider if any further action is required, but also to provide your Executor with an overview of your affairs.
- Familiarise yourself with the T&Cs of your online accounts to clarify how your estate is treated on death.
- Appoint a Digital Executor in your Will. This should be someone tech-savvy and trustworthy to manage your online estate.
- Consider backing up data or use password manager software to manage your login details and passwords.
- Update your Will to set out your wishes for your digital estate and make arrangements directly with the relevant digital organisation.
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