Digital Assets in your Will

Wills and Probate solicitor, Arlene, says “in the modern day, it’s becoming increasingly important to include digital assets in Wills, and knowing whether these assets belong to you, or if you only own a licence”.

Digital assets may take many forms, including that of your e-mail, on-line music, film and games purchases, your social media accounts, and forms of cryptocurrency, such as Bitcoin. Passing on these assets is still important as, even though they do not have a physical presence, they can still carry monetary and sentimental value.

Social media organisations, such as Facebook, Instagram, or Twitter, often have services in place that assist the family members of a deceased to close an account on their behalf, but it could be much easier for you to give your loved ones access to your accounts in the first instance. Subject to the terms of use for the on-line account, those acting on your behalf may be able to freeze or delete accounts, or turn an account into a memorial platform for your peers to see.

You may be able to specify the action to be taken in respect of photographs or videos you have saved or created over time. This could include the identity of those allowed to view the content, a password for your hard drive device, and potentially any log-in details to on-line cloud services where content may be stored.

Assets such as cryptocurrency will carry real time monetary value which, in time, could benefit an individual or organisation.

Additionally, many digital assets belong to an international body, such as Luxembourg’s authority over PayPal. Therefore, this is a factor a legal professional needs to be aware of, when drafting a Will.

On the other hand, you may not own music, films, games, books, or videos downloaded to a personal device. You may only have purchased a licence to use the content rather than the rights to the item itself and this licence may not be transferrable to any other person on death.

In many cases, difficulties can be avoided by supplying appropriate information to the Executors of your will or those acting on your behalf, but if you would like legal assistance in relation to creating a will, including dealing with your digital assets, please call Churchers on 01329 822 333 for further information.

 

‘No-Fault Divorce’ Law Welcomed At Churchers

April 2019

Churchers has welcomed today’s announcement of a change in the law to introduce no fault divorces.

More Info

Things to consider before making a Will

April 2019

A Will is an important document.  You should always seek full and  proper  advice from legal professionals.

More Info

Top 10 things to think about when buying a house

Top 10 things to think about when buying a house.

More Info

Upskirting: know your rights

There has been a great deal in the news recently about 'upskirting'; with a new law specifically banning the practice coming into force on the 12th April. What is it all about and why has the law changed?

More Info

Reviews

We’re proud to be associated with

  • The Law Society, Conveyancing Quality Accredited logo
  • The Law Society, Children Law Accredited logo
  • The Law Society, Criminal Litigation Accredited logo
  • The Law Society, Family Law Accredited logo
  • The Law Society, Family Law Advanced Accredited logo
  • The Law Society, Lexcel Accredited logo
  • Solicitors For The Elderly Accredited logo
  • Society of Trust and Estate Practitioners logo
  • Dementia Friends logo
  • Resolution logo