Many of us nowadays have digital assets which include email accounts, social media accounts or online banking and shopping accounts.
However, how many of us have considered what will happen to these when we are no longer here? A YouGov poll from 2016 suggested that only a minority have thought about their digital assets at all.
There are practical steps which we can all take for planning which include:
- Make a Will which allows you to appoint Executors who will have the authority to administer all of your assets.
- Make a digital inventory that contains details of all of your online assets, social media accounts, logins and passwords. This will allow your Executors to be able to trace your assets and pass them on to your beneficiaries.
- Keep your digital inventory in a safe place, for example, it can be held securely with your Will by your solicitor.
- Make sure you keep your digital inventory up to date.
- Include instructions relating to your social media accounts whether you would like these to be memorialised or closed down.
Planning ahead and leaving details and clear instructions will remove uncertainty for your loved ones and will enable your Executors to carry out your wishes.
If this is something you would like to discuss please contact Beers’ Private Client team on 01548 857000 and 01752 246000.