Including digital assets (photos and emails) in your will
A survey commissioned by the Law Society found that 93% of clients who have a will have not yet included any digital assets in it.
Digital assets are things like photos and videos stored on your computer ‘virtually,’ as well as emails and online banking accounts or social media presence.
Law Society president David Greene cautioned that overlooking digital assets would leave family members unable to access information needed for probate. This may be stored on online banking accounts.
Law Society president David Greene: ‘Writing a digital will and keeping a clear record of online passwords ensures that your loved ones are able to access your digital assets and are not faced with any additional stresses during probate’.
The Law Gazette Article dated 7th January is available to view here.
The Law Society stated there has been what it calls a ‘striking shift’ in the number of people making or updating wills during the Covid-19 pandemic but it warned that the ‘overwhelming majority’ of people still do not have their affairs in order. The implications of nit making a will can be costly and bring stress and uncertainty to an already painful and difficult time.
Despite this, just 29% of those recently surveyed have an up-to-date will.