Digital Wills and Online Assets: What You Need to Know

Introduction
In today’s digital age, your assets aren’t limited to cash, property, or physical possessions. Many people hold significant value online — from social media accounts and digital photos to cryptocurrencies and online businesses. Failing to include digital assets in your Will can leave them inaccessible or mismanaged after you pass away.

This blog explores how to include digital assets in your Will, why it’s important, and practical steps to ensure your digital life is handled according to your wishes.

What Counts as a Digital Asset?

Digital assets include anything with value that exists in electronic form, such as:

• Email and social media accounts: Facebook, Instagram, Twitter, LinkedIn

• Digital currency: Bitcoin, Ethereum, or other cryptocurrencies

• Online banking and investments: Digital wallets, investment platforms

• Cloud storage and files: Google Drive, Dropbox, iCloud

• Digital subscriptions: Domain names, website hosting, or creative content accounts

• Intellectual property: Blogs, eBooks, music, photos, or videos

Even if these assets aren’t highly valuable financially, they can have sentimental or personal importance.

Why Digital Assets Need Special Attention

1. Access restrictions:
   Many platforms have strict terms of service that prevent anyone from accessing your account after your death without legal documentation.

2. Potential loss of value:
   Cryptocurrencies, online businesses, and digital investments can be lost if there’s no clear plan for inheritance.

3. Emotional value:
   Photos, videos, or personal projects may hold irreplaceable sentimental value for loved ones.

4. Legal complications:
   Without clear instructions, executors may face hurdles accessing or transferring digital assets legally.

How to Include Digital Assets in Your Will

1. Make a digital asset inventory
   List all accounts, logins, passwords, and recovery methods. This helps executors manage your digital estate efficiently.

2. Specify beneficiaries
   Clearly state who should inherit each digital asset, whether it’s a social media account, cryptocurrency, or domain name.

3. Appoint a digital executor
   A digital executor can be a trusted individual or professional who will manage your digital assets according to your instructions.

4. Include instructions for deletion or memorialisation
   Decide whether accounts should be deleted, archived, or memorialised, particularly for social media platforms.

5. Keep details secure
   Store passwords and instructions in a secure location, such as a password manager or encrypted document, and inform your executors how to access them.

Legal Considerations

• UK laws: Digital assets are considered property under UK law, but access can be restricted by platform policies.

• Terms of service agreements: Many platforms limit account transfers or inheritance, so including instructions and using executor powers is essential.

• Cryptocurrency: Ensure access keys or recovery phrases are stored securely and instructions are included in your Will.

• Professional advice: Consult a solicitor if your digital assets are complex, valuable, or involve business interests.

Practical Example
Tom, a 35-year-old freelance designer, had multiple online accounts and digital assets:

• Instagram and portfolio sites with significant professional value

• Cryptocurrency holdings

• Cloud storage containing client work and personal projects

Without a plan, his family would have struggled to access or protect these assets. By including digital instructions in his Will and appointing a digital executor, Tom ensured that his online legacy and professional work were preserved and distributed according to his wishes.

Tips for Managing Digital Assets

1. Regularly update your inventory: Add new accounts, remove obsolete ones, and update passwords.

2. Use a secure password manager: Store logins safely and provide access instructions to your executor.

3. Include digital instructions in your Will: Refer to the inventory without exposing passwords publicly.

4. Consider professional help for complex assets: If you have significant cryptocurrency or online business interests, legal guidance is essential.

5. Discuss your plan with executors: Ensure they understand their responsibilities and how to access assets.

Conclusion
Digital assets are increasingly valuable, both financially and emotionally. Including them in your Will ensures they are managed, preserved, and transferred according to your wishes, preventing loss, confusion, or legal challenges.

Next Step: Download our Free Will Guide PDF for practical tips on managing both traditional and digital assets in your Will, giving your loved ones peace of mind.