Thanks to a stream of new gadgets
and technology, social networking and websites, many of us live a
majority of our lives online. From online banking to blogs, emails
and social networking to storing documents, digital photo albums,
films and music.
A recent survey by Goldsmith’s
College London of 2,000 adults found that over half had possessions
stored on the internet and ‘cloud’ devices and over 25% held more
than £200 worth of films, videos and music online.
This means that, increasingly, your
digital assets should be a consideration when making a will in
exactly the same way you would consider who you should receive your
offline assets. How to do this is difficult as Gareth Wisdom, Head
of Volume Wills at Involegal, explains:
“Protecting digital assets is
something that is increasingly important for many of our clients.
It is certainly something that should be considered when so much
information is now online. We advise clients to keep a record of
accounts held and who should have access to them in future, it’s
also important to keep this up to date as things like passwords and
websites used change on a regular basis.”
Another consideration is your living
online legacy such as social networking affairs, email and internet
banking. It is estimated that 1.78 million Facebook users will die
this year, 200,000 of them will be over the age of 55. This
highlights that it is not only the younger generation that need to
consider their digital footprint in their wills but the older
generation too, many of whom may already have made a will and
should now consider revising it to include their digital
Web-based service providers have
varying policies on what they require for someone other than the
account holder to gain access. Although there have been recent
calls to regulate online industries in this area, there remains a
vast discrepancy between the policies of different websites. To
make it easier for executors to tie up such affairs, it is
advisable to make a list of usernames and passwords to be stored
safely with your will. It may also be worth noting in your will how
you wish for your social networking assets to be dealt with. Many
providers offer not only the option to delete accounts after death
but to memorialise them, preserving them indefinitely for friends
Hugh James Involegal LLP provides volume will writing services
for clients in the financial services sectors, including major high
> Read more about our volume wills
Hugh James, a top 100 UK law firm, offers a range of will
writing services direct to individuals.
Click here to find out more about making your will
Head of Volume Wills and Probate
t > 029 2066 0563
e > firstname.lastname@example.org
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