Digital Assets and how your Executors get hold of them after your death

WHAT ARE DIGITAL ASSETS?

The term "digital assets" refers to the possessions you access on a digital device such as a laptop, mobile phone, tablet or personal computer. They are normally accessed via an online account run by a third-party provider such as Google, Facebook, Netflix, Apple, Microsoft, Amazon or a bank.

Examples of digital assets are online bank accounts, digital photos, digital music tracks or videos that are stored online and accessed by logging into a personal account with the provider. Other examples are emails, conversations in social media, online games and online family ancestry databases (which could include family photos, videos and even DNA test results).

Most people also access actual assets and services such as money in a bank account, loans on credit cards, pension funds, investment portfolios, gambling sites and utilities such as gas and electricity via online accounts. Although the underlying asset or service is not a digital asset, access is controlled via a digital portal by typing in a username and password.

Maintaining access to online accounts is essential for either financial or sentimental reasons. It is very important therefore to plan what will happen to your online accounts when you die. 

Imagine if, following your death, family and friends were unable to access your documents and photographs, and accounts or the companies running the platform where they are held permanently deleted your digital assets. 

This is exactly what could happen if you do not make plans now to enable your executors to access the assets on your death.

The best option is to store this information on a memorandum of wishes and keep it with a copy of your Will in our secure storage facility.

This will then: 

• Protect all of your online assets if you are ever hacked or burgled 

• ensure if you ever forget an access password or login number yourself that there is a simple and safe way of accessing it 

• Ensure when the time comes you executors have immediate access to all your online accounts

To enjoy the benefit of this essential protection, simply arrange to put in place Priority Client Cover with us which costs just £1.15 per week and provides a whole host of extra benefits which can be seen on our Priority Client Cover page and has no minimum contract term – you can stop and start it whenever you want.

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• Your Digital Assets

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