The Overlooked Asset: Digital Assets ' Your Will And Lasting Power Of Attorney

• Published date: 28 March 2022
• Subject Matter: Family and Matrimonial, Technology, Wills/ Intestacy/ Estate Planning, Fin Tech
• Law Firm: Ellis Jones
• Author: Mr Richard Smith

Life is now increasingly becoming digital. We have laptops, smartphones, Facebook, Instagram, ITunes, pay pal, online banking, private email accounts, Amazon Accounts, digital photographs and for the brave cryptocurrency. Whilst not all of our digital assets have a monetary value many will and many will have a sentimental value. It is therefore essential that consideration is given to your Digital Assets in the context of both your Will and your Lasting Power of Attorney.

Digital assets and your Will:

Digital property does not vest with the executors until it can be found, accessed and retrieved. It is therefore prudent to have a secure list of your digital assets and details of how to access them to avoid these assets being overlooked or lost. Such a secure list should be regularly updated. Often such a list forms part of a letter of wishes which is held securely with your will.

Digital assets and your Lasting Power of Attorney:

LPAs are very useful tools to enable trusted individuals to look after your property and...