You probably have more digital assets than you realise. This guide explains what counts, how executors can get access, and simple steps to include them in your will.
As more of your life moves online, the question of what happens to your digital assets after death matters more. Your photos, emails, online bank accounts, social media, digital subscriptions and cryptocurrencies all need consideration when you plan your estate. Without clear instructions, these assets can be inaccessible or lost, and your executor may struggle to carry out your wishes.
What counts as a digital asset?
Digital assets are anything you own or control online. Common examples include:
- Online bank and payment accounts, such as online-only banks and PayPal
- Email accounts and cloud storage holding photos and documents
- Social media accounts and memorial or legacy settings
- Digital purchases such as ebooks, music and films held on platforms like iTunes, Amazon Kindle and Netflix
- Reward points, loyalty accounts and airline miles
- Domain names, websites and online businesses
- Cryptocurrencies and digital wallets
Not all of these are owned in the same way. Many digital purchases are licences, not property you can legally transfer, while cryptocurrencies are treated as assets with monetary value.
Who can access your digital assets?
Access depends on the provider, your terms of service and any settings you have chosen. For example, Facebook lets you nominate a legacy contact to manage an account after death, while other providers require proof of executorship. In many cases the account is protected by login credentials or encryption, so an executor will need the necessary information to act.
For legal and technical guidance for executors in England and Wales see the government pages on wills and probate at GOV.UK.
Practical steps to protect your digital assets
Make it straightforward for your executor to find and manage your digital estate by taking these steps:
- Create a digital inventory - list accounts, usernames, the purpose of the account and where to find passwords. Do not store passwords in your Will. Keep the inventory in a secure place and tell your executor where it is.
- Consider a digital executor - appoint someone you trust to manage your online estate. You can name them in your Will so your wishes are clear.
- Use legacy and privacy settings - where available, set legacy contacts and memorialisation settings on social media and email accounts.
- Handle cryptocurrencies carefully - record how to access private keys or hardware wallets. Without keys, crypto assets can be irrecoverable.
- Review terms of service - check whether accounts or digital purchases are transferable. For many digital licences you can only cancel or close the account rather than pass it on.
- Stop ongoing payments - record subscriptions and direct debits so they can be ended promptly to avoid unnecessary charges.
Where to store the information
Keep your digital inventory with other important documents, for example with your Will information pack, or in a trusted password manager that allows emergency access. Make sure your executor knows how to retrieve it. Do not put passwords directly in your Will because a Will becomes a public document after probate.
What executors should do
If you are acting as an executor, these steps will help you manage someone else’s digital estate:
- Gather the digital inventory and any login details you have been given.
- Contact providers and follow their procedures for deceased users. You may need to provide the death certificate and proof of your role as executor.
- Secure assets with monetary value, such as online bank accounts or cryptocurrencies, and include their value on the probate and inheritance tax forms if applicable.
- If you are unsure how to proceed, get specialist help. Probate services can assist with digital estates as well as traditional assets.
Tax and legal points
Digital assets with monetary value, including cryptocurrencies, should be included in the estate for inheritance tax and probate purposes in England and Wales. Treat them as you would other property when calculating the estate value. If you need support with probate or valuing digital assets, our team can help with sensitive guidance and practical steps.
Get help from Beneficial Family Wills
If you want to make sure your digital life is included in your plans, we can help you record your wishes and update your Will. Speak to us about organising a clear digital inventory and appointing a digital executor.
Arrange a professional Will or create an online will to record your wishes, including how digital assets should be handled.
If you need help with access later on, our probate services can support executors dealing with digital and physical assets alike. To discuss your situation call 01522 500823 or contact us online.
Amy Peters, Director of Beneficial Family Wills says:
“It is common practice for important information and documents to be stored alongside a Will, and a document that gives details of digital assets will help the probate process. There is currently little clarity on the law that deals with the succession of digital assets, technology is moving so rapidly. Wishes clearly set out in a Will with digital information will help an executor access digital platforms and execute the wishes portrayed.”
If you do not yet have a lasting power of attorney, this can also help with managing digital finances while you are alive but incapacitated. Find out more about preparing a lasting power of attorney and whether a trust might suit more complex situations at Trusts.
Planning for your digital assets now means your family will be able to follow your wishes and preserve memories and value when you are gone. Start with a clear inventory and the right legal documents to make things easier for those you leave behind.
Ready to protect your family's future?
Book a free, no-obligation consultation with one of our expert estate planning consultants. We make wills, LPAs and trusts simple, affordable, and completely stress-free.