The unaccounted assets that are lost in broad day light in our ever-expanding digital world

By Sivaindran Saktivisakan

When you think of your assets you probably think of your house, car, savings, etc. However, in our ever-modernising world, a new form of assets has emerged which painfully few people have protected in their wills. I am referring to digital assets, this encapsulates everything from Crypto currency, website domain ownerships, email accounts with vital data, social media accounts, gift card balances, and even nectar points and the deeply sentimental photos and videos on your phone, and so much more.

Statistics from a Law Society Survey shows that only 26% of people knew what was going to happen to their digital assets, and only 7% of these people fully knew and understood what was going to happen to their digital assets. This quite scary statistic shows how most people are not being advised on how to protect all their assets in their will and that digital assets are overlooked when people come to make a will.

You might think right now aside from Crypto currencies and website ownerships, which give your beneficiaries monetary value thinking about your digital assets is not important. However, imagine after you pass away your family and friends lose all the sentimental memories you made with them because they are all digital and locked behind a password your regular executor can not bypass.

You may be surprised to know that your standard executor cannot access all your digital assets after your passing, but a lot of digital companies are telling companies like Estate Search (a company who carries out estate searches) that without the appointment of a digital executor, they will not allow a standard executor any access to the digital data.

So if you do not wish for your family and friends to lose this very important and sentimental part of your life, and some monetary digital assets as well, it is absolutely critical that your solicitor speaks to you about what to include in your will to protect these digital assets and, how to properly appoint a digital executor.

So if you are considering writing a will or perhaps amending your will to protect your digital assets, please contact ABA Solicitors Ltd to get further information and best possible advice and experience, with are deep experience in will writing, and strong ethos in making our clients happy. Contact ABA Solicitors Ltd now for a free consultation.