A Digital Dilemma: Protecting Your Online Assets

Wednesday 24 July 2019

Think about the last time you uploaded a picture to an online platform (such as Facebook, Twitter, or Instagram) or when you accessed your online shopping account to purchase your weekly groceries.

Many of us conduct these tasks instinctively and if we happen to forget our passwords, we simply contact the provider, verify that we are the holder of the account, and log back in as usual.

Now – imagine having the responsibility of knowing, and being able to access, all of the online accounts that a family member or friend used during their lifetime.

You could find yourself in this exact situation if you are named as the Executor in a person’s Will, with the responsibility of having to access and distribute all of their digital assets.

How can you avoid putting loved ones in this digital dilemma?

It’s important to understand your legal rights, which vary in relation to different digital assets.

For instance, if you own any assets that hold financial value such as online banking, shopping, or PayPal accounts and beneficiaries are unaware of their existence, then they may miss out on inheritance intended to go their way.

Additionally you may hold accounts on social media sites which, unbeknown to loved ones, contain hundreds of treasured pictures, videos, and memories.

Top Tips

• Create back-ups and hard copies of important media to ensure that cherished memories aren’t lost
• Nominate in your Will who should be your Digital Executor – they will have control of your accounts and can carry out your wishes in terms of deactivation
• Create and frequently update a Digital Directory which contains a list of all of your digital assets, the names of beneficiaries that these should be passed to, and any login details. The Directory can be safely stored along with your Will

Important Note

Some platforms such as YouTube and iTunes operate under licences and agreements that stop you passing them onto selected beneficiaries. This means that it’s important to take steps now to deal with your digital assets, before important media is lost forever.

For more information or support with ensuring that your digital assets are protected, please contact a member of our Wills & Probate team today.