LONDON (Within The Law) - Digital assets such as photos and emails should be included in wills. That’s the message from a new report by the Law Society, which finds many people are still confused about what to do with digital assets after they die.
According to a survey commissioned by the Society, 93% of those who have a will do not include any digital assets. Just a quarter of the respondents knew what would happen to them after they die with just 7% feel they had a full understanding.
However, with technology assuming an increasingly important part of our life, Law society President David Greene said it should also form an important role in our deaths.
“Technology is a huge part of modern life and our digital assets include everything from photos stored online to online banking and email accounts,” he explained. “Overwhelming majority of people do not account for digital assets in their wills, research finds. Photos, social media accounts and emails from loved ones are often just as treasured as physical possessions – and yet very few people understand what happens to their digital assets or why it is important to include them in their will.”
Leaving digital assets out of wills could have all sorts of unintended consequences. Photos and social media accounts could be unavailable as could important information. Family members may, for example, be unable to access vital information which could be used for probate.
Including digital assets in your will and making sure your loved ones have access to passwords is the best way to ensure they are protected after you die.
The Law Society’s research also found that there had been an uptick of will writing during the pandemic. Even so, people still haven’t understood the importance of thinking about digital assets when sketching out their wills.
(Written by Tom Cropper, edited by Klaudia Fior)