Protecting your digital legacy: why your Will should cover more than your home and savings

When most people think about writing a Will, they naturally focus on the obvious assets – their home, investments, savings and treasured possessions. Yet for many of us, a significant part of our lives now exists online.

From family photographs stored in the cloud to online banking, cryptocurrency, social media accounts and even loyalty points, our digital footprint continues to grow. While some of these assets have clear financial value, others carry priceless sentimental importance.

The problem is that many people still overlook their digital assets when making or updating their Will. That can leave loved ones facing unnecessary complications at what is already a difficult time.

What counts as a digital asset?

A digital asset is broadly anything that exists electronically and belongs to you, or that you have rights to access or use.

Examples include:

• Online bank and investment accounts
• Cryptocurrency holdings
• PayPal balances
• Digital photographs and videos
• Email accounts
• Social media profiles
• Cloud storage services
• Websites and domain names
• Reward and loyalty scheme accounts
• Online businesses or digital intellectual property

Some of these assets may represent substantial financial value, while others are simply irreplaceable memories. Both deserve careful consideration as part of your wider estate planning.

It’s not just about money

Many people assume digital estate planning only matters if they own cryptocurrency or run an online business.

In reality, the emotional value of digital assets can be even greater.

Think about the thousands of family photographs stored on your phone or in cloud storage. Consider years of emails, videos, personal documents or creative work that exists nowhere else. Without proper planning, your family may struggle to locate or access these accounts after your death.

Equally, you may have online accounts that you would prefer to be closed, deleted or memorialised rather than left active indefinitely.

Planning ahead allows your wishes to be carried out while making life considerably easier for those administering your estate.

Access isn’t always straightforward

One of the biggest misconceptions is that family members can simply log into someone else’s online accounts after they die.

In reality, many online platforms have strict terms and conditions that prevent passwords being shared or accounts being accessed by anyone other than the original account holder.

In many cases, digital content isn’t actually owned outright but licensed for personal use. This means certain purchases, such as digital books, music or films, cannot simply be inherited in the same way as physical possessions. Different providers also have different rules about what happens when an account holder dies.

Fortunately, some major technology companies now offer legacy features that allow users to nominate trusted individuals to manage aspects of their accounts after death, making it well worth reviewing the options available on services you use regularly.

Practical steps you can take today

Looking after your digital legacy doesn’t need to be complicated.

A few sensible steps can make a significant difference:

• Prepare an up-to-date inventory of your digital accounts.
• Record where important information is stored.
• Keep login details securely, but separately from your Will.
• Make trusted executors aware that these records exist and where they can be found.
• Identify any digital assets with financial value.
• Consider which accounts should remain active, be transferred where possible, or be closed.
• Review your arrangements regularly as technology and your online activity evolve.

Importantly, avoid including passwords directly within your Will. Once probate has been granted, a Will becomes a public document, so sensitive login information should always be stored securely elsewhere.

Should your Will mention digital assets?

Every estate is different.

For some people, a simple record of their online accounts may be sufficient. Others may benefit from including specific provisions within their Will, particularly where valuable digital assets, online businesses or cryptocurrency are involved.

Your executors also need clear authority to deal with digital assets wherever possible, reducing delays and helping ensure your wishes are followed.

As technology continues to develop, digital estate planning is becoming an increasingly important part of comprehensive financial planning rather than an optional extra.

A modern Will for a digital world

Our lives are more connected than ever before, and our estate planning should reflect that reality.

Taking a little time now to organise your digital assets can help preserve valuable memories, protect financial assets and remove unnecessary stress for those you leave behind.

Whether you’re making your first Will or reviewing an existing one, ensuring your digital legacy has been properly considered can provide valuable peace of mind for both you and your family.

Need advice on updating your Will?

At Kellands, we can help you ensure your estate planning reflects every aspect of your life – including the growing collection of digital assets many of us now own.

Whether you’re writing your first Will, reviewing an existing one or looking for broader estate planning advice, our experienced advisers are here to guide you through the process with clear, practical advice tailored to your circumstances.

To find out more, contact us today and take the next step towards protecting both your traditional estate and your digital legacy.

Please note

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The Financial Conduct Authority does not regulate estate planning or will writing.

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