Digital Assets
What happens to my iTunes account when I die?
Today’s world is a world that is very much reliant on technology. Technology and online accounts are fantastic all the time you can access it/them but imagine for a moment what would happen if you were to pass away … Would your family know what digital assets you hold and how to access them?
Digital assets are something that almost all of us own. If you use a computer, a smartphone, or a tablet that you are very likely to have some digital assets.
To name but a few, digital assets include:
- Bank Accounts
- PayPal
- Social Media- Twitter, Facebook, Snapchat
- Email accounts
- Cloud storage
- Online auction sites- eBay
- Cloud storage/Drop Box
Digital assets do not always have a monetary value, but they may have a huge sentimental value, for example photographs stored electronically. On a person’s death all a person’s digital assets need to be unlocked so their monetary value can be released to the person’s estate, to enable an executor to manage an estate, to assess liabilities and to enable photos or other personal items to be saved and usable by the next generation.
If you would like to know more about dealing with your digital assets and ensuring that your loved ones can get access to them after your death, please do not hesitate to contact Christopher Seddon, who is the head of our Private Client Team, or Lucy Stockill, one of our Private Client Solicitors, for guidance and an initial free telephone consultation.
