Your Digital Life Needs an Estate Plan Too
The average UK adult has over 100 online accounts. Fewer than 15 per cent of Wills mention digital assets at all. The result: families locked out of email, cryptocurrency lost behind forgotten passwords, and subscriptions charging for months after a death.
What counts as a digital asset: Online bank and investment accounts, cryptocurrency, email, social media, cloud photos, streaming subscriptions, domain names, digital media libraries, and any content generating revenue.
The crypto risk: Unlike bank accounts, there is no institution to call. If your private key or seed phrase is lost, the cryptocurrency is gone permanently. An estimated 20 per cent of all Bitcoin ever mined is locked in inaccessible wallets.
The legal gap: UK law has no specific digital asset legislation. Financial digital assets form part of your estate, but platform terms of service often restrict access — your executors may face weeks of correspondence with each provider individually.
What to do now:
- Create a digital asset register — every account, every login, every platform
- Use a password manager and share the master password with your executor
- Enable legacy contacts on Apple, Google, and Facebook
- Store crypto keys and seed phrases securely — never in the Will itself (it becomes public after probate)
- Add a clause in your Will directing executors to your digital register
- Review the list annually
Your digital estate is now as valuable as your physical one. Without a plan, your family inherits confusion, delay, and permanent loss.