Latest research performed by London University’s Centre for Creative and Social Technology has found that the population owns £2.3billion of internet-hosted assets. This is not limited just to bank accounts, but also ‘cloud services’ where people own Internet-hosted assets such as films, music and online subscriptions.
It is also becoming increasingly common for people to store online data, such as video footage and photographs. This may be lost when you die and there is no record of where the data is kept, or the passwords to access the account.
It is important for each individual to consider whether they wish their digital possessions to form part of their estate, and pass to their loved ones following their death. These assets may either be of monetary or sentimental value, but is important that a record is kept with the essential information to assist the executors of your will in the administration of the estate.
We can assist you in keeping a private record of this information with your will, and also include provision for digital inheritance when drafting your will.
For further information please contact Elliot Lewis.
Topics: Commercial Property Transactions