Digital Assets – What You Really Need to Know
Have you thought about how your digital assets would be dealt with after your death? It is something which you can easily overlook when you are making a Will. It is easy to think about houses you own, bank accounts and personal property. However, digital assets are often overlooked. This can be a huge mistake with serious consequences. Digital asset estate planning has become an essential part of the process of making a Will.
The age of the internet has brought us many things. Online banking, Facebook, eBay, Instagram, Cloud Computing. These are just a few of the many assets of the digital world which were unheard of not so many years ago. We used to make provision for who would get our photo albums when we died, but now we have potentially hundreds of thousands of files in the cloud. It is a whole different world that we live in now.
Digital assets and your Will
Digital asset estate planning is now relevant for most people making a Will. Your digital legacy will live on way past your death. In theory, your digital assets will live forever. It is vitally important that you consider digital asset estate planning when you are making your Will. Continue reading
Maybe a solicitor has quoted you a few hundred pounds to prepare your Will. Perhaps you are now considering whether you can write your own Will. You may be wondering “how hard can it be?”.
It’s entirely possible to write your own Will, but let us give you a few pointers.
Estate planning (the process of writing a Will) can be daunting. Many of us are prone to common, easily-avoided mistakes, if we get around to our Will at all. In fact, according to a report by the Legal services board, even solicitors who don’t specialise in estate planning frequently make mistakes with Wills.
The Law Society express concern that do-it-yourself Will services were eroding the Will writing business. They asked the government to protect Will writing. To make it a service that only solicitors can provide.