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Estate Planning in the Digital Age
In today’s increasingly connected world, it’s no longer just our homes, bank accounts and heirlooms that form part of our estates. We also leave behind an extensive digital footprint – and it’s vital we plan for what happens to it.
In this episode of the Lawdit Podcast, Mark Reed and Ellis sit down to discuss a growing challenge in estate planning: how to handle digital assets.
What Are Digital Assets?
Digital assets include anything stored online or in a digital format that holds personal or financial value. Examples include:
- Cryptocurrency wallets (e.g. Bitcoin, Ethereum)
- NFTs and blockchain-based investments
- Online banking or PayPal accounts
- Domain names and websites
- Social media profiles (Instagram, Facebook, LinkedIn)
- Cloud storage (Google Drive, Dropbox)
- Email accounts
- Digital photos, videos or creative works
These assets may hold sentimental, practical, or significant financial value – and often, they’re overlooked when someone passes away.
Why Digital Assets Matter in Your Will
As Mark highlights in the podcast, digital assets are frequently excluded from traditional wills because people simply don’t think about them. But the legal reality is this:
- If digital assets aren’t mentioned in your will, they may become inaccessible or lost forever.
- Loved ones may face complicated legal hurdles to gain access – if they’re even aware the assets exist.
- In some cases, ownership rights can be disputed, particularly with monetised content or crypto holdings.
By proactively including your digital assets in your will and estate plan, you give your executors and beneficiaries clear instructions and avoid unnecessary stress during an already difficult time.
Are Digital Assets Treated the Same as Traditional Property?
Not quite. The legal frameworks around digital assets are still catching up.
For instance:
- Cryptocurrency is considered property under UK law, but passing it on requires access to digital wallets and private keys – without them, it’s gone.
- Social media accounts are usually controlled by platform-specific policies. Some allow memorialisation, others don’t allow access without a court order.
- Copyrighted content (such as blogs, eBooks or music) can potentially be inherited, but only if rights and ownership are clearly defined.
That’s why clarity is key. If you own digital property of value – or even just sentiment – you need to document what you have, how to access it, and who should receive it.
Practical Steps You Can Take
In the podcast, Ellis and Mark offer practical tips that anyone can take right now:
- Create a digital asset inventory – list your accounts, usernames, and the type of content or value they hold.
- Use a password manager – store credentials securely and consider how trusted individuals could access it after your death.
- Review platform policies – each site has its own rules about access and data after death.
- Name a digital executor – someone who can handle digital matters as part of your estate.
If you’re already working with a solicitor to draft your will, now is the time to raise the topic of digital assets.
The Future of Estate Planning
As more of our lives move online, digital inheritance is no longer a niche issue – it’s a core part of modern estate planning. From Spotify royalties to online-only businesses and TikTok monetisation, these are real-world assets with legal consequences.
At Lawdit, we work with individuals and families to ensure their estates – both physical and digital – are properly accounted for and protected.
