Have you considered your digital assets when estate planning?

Emma Weir, LLP Partner at Griffith Smith Farrington Webb LLP, asks if you've considered your digital assets when estate planning?

As little as 10 or 15 years ago the concept of making provision for digital assets when estate planning would have seemed absurd. It is now essential to give some consideration, and make adequate provision for your digital estate as so much of our life is conducted online and through the digital sphere.

Have a think about the digital assets you may have and you will be surprised by how much there is. Do you have online bank accounts, share accounts, betting accounts or iTunes accounts? Do you have social media accounts, blogs, email accounts or photographs and videos stored online? Do you have a number of e-books or a music collection stored online?

If you have answered yes to any of the above then you need to consider how these assets will be accessed and then distributed after your death. Our Tax Trusts and Estates Team have produced a fact sheet on the Transfer of Digital Assets on Death which provides some practical steps we believe you should consider.

For further information or to make an appointment, please contact the Tax, Trusts and Estates Team on 01273 324041 or by e-mail to enquiries@gsfwsolicitors.co.uk. Alternatively you may use our online enquiry form form.

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