A recent survey carried out by the Law Society confirmed that a staggering 93% of those who have made a will had not included any digital assets in their will*.
What are digital assets
Digital assets are important and can include everything from your free email and social media accounts through to your cherished family photos and important online bank accounts.
Despite the huge impact that technology has had on our lives in the recent years, few people understand what happens to their digital assets upon their death or why it is important to include them in their will.
I already have a will do I need to make it digital.
Omitting digital assets from a will can leave family members unable to access online accounts or photos. Closure of the deceased’s social media accounts will also be very difficult.
Furthermore, not having a digital will can seriously complicate obtaining the information for probate purposes thus making the whole process more stressful, longer and ultimately more expensive.
What is a digital Will?
Digital will is a will which deals with both your physical and digital assets. A qualified a solicitor will be able to advise you how to best include both types of assets in your will and draft a legally binding document.
MLS’ tip to keep your digital Will up to date:
Keeping a clear record of online passwords ensures that your estate is inherited exactly as you wish, and your loved ones are not faced with any additional stresses during probate.
Does your Will reflect your lifestyle?
Here at My Local Solicitor, we are proud to be ahead of the curve and writing modern digital wills is what we do best. For more information, email firstname.lastname@example.org
*A Populus survey of more than 1,000 members of the public commissioned by the Law Society asked several questions about whether people had made a will. The survey took place in late June 2020.