Thought about your digital assets when writing your will?
Digital assets are known to be overlooked when it comes to the purpose of creating a Will
In recent years, the need to protect your digital assets has increased. It is very common now for people to use online banking, social media and media facilities for storing personal information and it is now becoming an increasingly common topic when talking to our clients about preparing their Wills.
There is no specific definition for a ‘digital asset’ but it is likely that you will possess some form of digital asset, whether it holds a significant or nominal monetary value or sentimental value alone.
With some people having a full time career in the blogging and vlogging industry, including famous Youtubers, or influencers it is important to include these types of digital assets in your Will.
If you decide not to mention your digital assets, it will simply form part of your residuary estate for your personal representatives, to distribute in accordance with the terms of your Will. It may be the case though that you would prefer such assets to be dealt with separately, or at least for your personal representatives to be aware of the assets.
If you are aware that your digital assets are of monetary value, it will be the Intellectual Property that holds the value. If this is the case, then we believe it is worth speaking with one of our lawyers at CP Law Associates, to help with your WIll arrangements.
For advice on your own digital assets and how they should be dealt with as well as preparing a wIll and wider estate planning contact us today.
Contact us today for a free, no-obligation quote.