There is no doubt that the advancements in technology have changed the way that we live our lives from maybe 20 or 30 years ago, but are we getting a little lost in cyber space? We live in a digital world where just about everything has been touched by technology. The things around us continue to get smarter and faster and more connected.

Businesses deal with their customers online and through social media, people store their pictures on the Cloud rather than in a traditional photo album and online bank accounts are fast replacing the traditional local branch. I can even control my heating from my smart phone.

This is all very helpful in our full and fast paced lives and it is increasingly likely that we will embrace technology further and move a lot of our assets into online/digital form going forward.

But what happens with those digital assets on death?

Before the introduction of online accounts and social media etc, an Executor of an estate could gather the information that they would need to administer your estate by going through your papers at home. Statements and invoices would arrive through the post and everything was traceable. However, in this digital era, there may be no physical statements or invoices. The data is held online and accessible by a username and password.

Your digital assets may not have monetary value but could consist of a music library, photographs or a web domain.

It is impossible to broadly state what will happen with your digital assets on your death as different online providers will have different requirements. However, I would advise anyone with digital assets to consider the points below:

1. Make a list of usernames and passwords for all online accounts;
2. Keep a hard copy of the list of usernames and passwords and keep it up to date. Some third parties offer a secure online storage facility for this information.
3. Tell your Executor about the existence of the list (but do not give them the list);
4. Review the information and assets held in your online accounts and consider how they should be administered following your death.

Dealing with the administration of an estate can be difficult enough but the additional burden that technology has brought with it may make the task even more onerous.

The experience and expertise within the Wills, Trusts & Probate department allows us to offer specialist advice and guidance through what can be a very difficult time following the death of a loved one.  No matter how simple or how complex the affairs are, whether there was a Will written or not, our experts can help alleviate the stress and heartache involved.

What Jackson Lees can do for you…

We can make things a little easier for you and your family. If you would like to talk to one of our specialist advisers, please message us your enquiry or request a callback at your convenience.