Modern estate planning now extends beyond property and bank accounts to include digital assets such as online financial accounts, cryptocurrencies, photos, and cloud-stored data. As more of life takes place online, these digital legacies are becoming a vital part of wills and probate.
Recent UK research shows that nearly four in ten adults now include digital assets in their wills. This reflects a growing awareness that online possessions can hold both financial and emotional value. Without clear legal authority or access information, families can face major difficulties retrieving or managing a loved one’s digital property after death.
Digital assets range from cryptocurrencies and online investments to social media, photos, and email accounts. Access is often secured by unique passwords or encryption keys, which can be impossible to recover without prior planning. Unlike traditional property, there is no single UK law defining digital assets, so clear instructions in a will are crucial. Executors should be authorised to manage digital property, and access details should be stored securely – often through password managers or sealed legacy documents held separately from the will.
Cryptocurrencies pose particular risks. Without secure storage or shared private keys, they may be lost permanently. Similarly, social media and email accounts are governed by provider terms that may restrict access or transfer. Careful planning ensures that your executors understand both the legal and technical steps needed to preserve your online presence.
At Penerley, we help clients protect every part of their estate, from physical property to their digital life. Including a digital legacy plan in your will ensures your online assets are safeguarded and passed on according to your wishes.
For advice on updating your will to include digital assets, contact Penerley’s Private Client team today.
