Digital assets should be viewed as a form of property. They can be transferred or bequeathed to those who you wish to receive them by way of a will.
What you will need to consider
Unlike physical property, digital assets are intangible and invisible. The rights of ownership, control and access of digital assets are intertwined with complexities of privacy and security protection as laid out in various service provider policies. It is therefore a good idea to check these before you consider leaving digital assets in your will. Your digital legacy should be divided into ‘digital assets’ and your ‘digital presence’.
These will include your music, film and book collections that that you have bought and downloaded online as well as any online bank accounts or investments that you may hold.
These will include any social media accounts, e-mail or personal websites which make up your online footprint. In the case of digital presence, many people want to be able to shut down the online accounts of loved ones after their death but may struggle to do so because of the terms of the account’s policy.
It would be extremely useful for your Executor if you could leave a list of your digital assets, details of your digital presence and a list of all of your online shopping accounts with your will or with a loved one. You will then have dealt with your digital legacy as carefully as you have dealt with your tangible assets.
At Viberts, we encourage our will clients to factor their digital footprint into their estate planning arrangements, whether they are setting up a regular will or, a will trust. We are extremely familiar with how to protect and deal with you digital assets and can provide you with the advice you need to ensure that your loved ones can inherit all of your assets, not just your tangible ones. Get in touch with us, together we can look at your personal circumstances and advise on the best solution for you.
Call us on: +44 (0) 1534 632263