Have You Got Your Digital Assets in Order?

Have you got your digital assets in order? Many people don’t include their digital assets when planning their estate, but they should be included the same as other assets. In this article, our specialist Wills and Probate Solicitors explain the importance of having your digital assets in order.

Have You Got Your Digital Assets in Order?

What are Digital Assets?

Digital assets include e-mail accounts, online banking, online investments, social media accounts (Facebook, Twitter etc.), online purchasing/selling accounts (e-Bay, Amazon etc.), data stored on Pc’s, tablets, laptops, mobile phones  and blogs just to name a few.
These types of assets tend to have little value but some may have significant value or sentimental value.

What Would Happen to these Assets When we Die?

Much of the information stored on computers, hard drives and online accounts are user name and password protected. Unless prior arrangements are made, family members or your Executors/Administrators may not be able to access these which leave the information unobtainable.

Practical Steps to Put in Place

Planning for your digital estate is similar to planning for other assets.

  • You need to make create a comprehensive inventory of your digital assets. Make a list of your user names, passwords and security questions for each asset.
  • Make a Will – your Executors are empowered by the Court to administer and realise all assets including your digital ones.
  • Safely store these details with your Will or in a safe place so that your Executors have access to this information on your death.
  • Maintain and update the information on a regular basis.
  • Provide instructions for what you want to happen to your assets i.e. if you want it to continue, someone to take it over or should it be closed down.

It may take some time for you to get the relevant information together. If you don’t do this, your family will not know where to start and could miss something valuable. The more you do now to put things in order, the easier it will be for your family on your death.

Wills & Probate Solicitors Leeds & Yorkshire

Morrish Solicitors are a leading Law Firm based in Yorkshire. We provide a range of legal services to clients both regionally and national. Our specialist Wills and Probate Solicitors Leeds are able to advise you on a range of matters including:

We are regulated by the Solicitors Regulation Authority so, you can have peace of mind your matter is dealt with effectively and efficiently. To enquire please contact our Wills and Probate Solicitors on 033 3344 9600 or email  [email protected] with your request.