Digital assets and your Will
Have you included your ‘digital assets’ in your Will?
A survey commissioned by The Law Society has found 93% of those people who have a Will, have not made any reference to their digital assets such as email accounts, online banking, passwords and digital photos.
As photos, social media accounts and emails from loved ones can be just as treasured as physical possessions, Jennifer Robinson, paralegal in the Private Client team at Wake Smith Solicitors, looks at the issue.
“With so much of our lives online, it is important that executors and loved ones are aware of the existence of digital assets and their means of access.
“Keeping a clear record of online passwords ensures that your executors and loved ones are able to access your digital assets and are not faced with unnecessary additional stress during probate.”
Jennifer added: “However, whilst it is important to make a record of digital assets, I do not view it necessary that passwords should be included in the Will.
“Once a grant of Probate has been obtained to a Will, the Will becomes a public record and can be accessed by all. This could cause security concerns.
“Rather, it would be more suitable to note this sensitive information in a Letter of Wishes.
“The letter can be stored alongside the Will and provide the same level of guidance to your executors.”
For more information on Wills and to book an appointment please contact the Private Client team at Wake Smith Solicitors on 0114 266 6660
Wake Smith Solicitors has remained fully operational during the COVID-19 pandemic.