Wills & Probate | Digital Assets
Updated: Jul 31
I have recently read an article which sets out the challenges of digital assets from an inheritance standpoint.
The issues that stood out for me were:
the law surrounding digital assets is very much grey and any action should be taken with caution and after speaking to your legal advisor;
there are many that still do not fully understand the digital world and this could mean that digital assets are either missed or lost.
It is important to consider your digital assets when preparing your Will to be sure that your loved ones have access to those accounts and of course special memories (think of photographs stored electronically, for example). I wrote an article about this some time ago: read here.
It is also important, as an Executor, to take legal advice surrounding digital assets, how to find them, how to distribute them and how to deal with them.
It is very important to understand the process and I would always suggest taking legal advice prior to ensure that you are dealing with the estate in the correct way.
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The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.